Danske Spil reports strong Q1 financial results

Danske Spil has reported positive financial results for the period ending March 31, 2023. They achieved a total Gross Gaming Revenue (GGR) of DKK 1,217 million, marking an increase of DKK 94 million compared to the previous year. Net profit also rose by DKK 68 million, reaching DKK 459 million.

Strong quarter of Danske Spil

The growth in GGR was primarily driven by the expansion of lotteries, with the introduction of Tuesday draws for Eurojackpot being well-received by players. Additionally, Elite Gaming’s physical gaming halls and the inclusion of Det Danske Klasselotteri A/S from April 1, 2022, contributed to the positive performance. However, there was a slight decline in GGR for sports betting and the casino segment.

The total GGR of DKK 1,217 million was distributed across different segments, with Danske Lotteri Spil contributing DKK 678 million, Danske Licens Spil contributing DKK 397 million, Det Danske Klasselotteri contributing DKK 64 million, Elite Gaming contributing DKK 76 million, and Swush contributing DKK 2 million.

Increasing of net profit

Danske Spil achieved a net profit of DKK 459 million, an increase of DKK 68 million compared to the same period in 2022. The inclusion of Det Danske Klasselotteri contributed DKK 30 million to the overall result. Additionally, the company experienced a rise in costs related to statutory fees and direct GGR-related expenses. Financial expenses increased due to higher interest rates and gains on securities.

Danish state lottery operator expects a GGR in the DKK 5.0-5.2 billion range and a net profit of DKK 1.7-1.8 billion for the full fiscal year.