Danske Spil Achieves Record Revenue and Net Profit Growth in 2023

Danske Spil, Denmark’s premier state-owned lottery and betting operator, announced a prosperous financial year for 2023, with a notable uptick in both revenue and net income, despite facing challenges in some business segments.

Danske Spil Record Revenue Growth 2023

The company’s revenue ascended to DKK 5.04 billion, marking a modest yet significant increase from DKK 4.98 billion in the preceding year. This growth was primarily propelled by the Danske Lotteri Spil division, which achieved a record revenue of DKK 2.87 billion, up by 2.5% from the previous year, attributed to innovative game launches and an additional Eurojackpot draw.

In a standout performance, the Danske Klasse-lotteri division, integrated into Danske Spil’s umbrella two years ago, witnessed a remarkable 30.1% revenue surge, closing the year at DKK 250.4 million. This growth underscores Danske Spil’s ability to successfully expand and diversify its offerings.

However, the company’s journey through 2023 was not without its hurdles. The Danske Licens Spil division, encompassing sports betting and iGaming activities, faced a slight revenue dip of 3%, settling at DKK 1.61 billion.

This setback was attributed to higher than usual win rates and intensified market competition. Additionally, the Elite Gaming land-based brand and the Swush fantasy sports platform experienced revenue declines of 3.2% and 27.3%, respectively, with Swush’s struggles leading to the divestiture of a 60% stake to Ekstra Bladet.

Despite these challenges, Danske Spil’s overall financial health remained robust, with a net profit increase of 5.9%, illustrating the company’s resilience and strategic prowess. The operator also reported significant contributions to state taxes, alongside managing external costs and staff expenses efficiently, resulting in an impressive operating profit of DKK 3.69 billion and a pre-tax profit boost of 6.0%.

This financial success story is a testament to Danske Spil’s enduring appeal and strategic acumen, particularly within its lottery division. It not only reinforces the company’s dominant position within the Danish market but also highlights its commitment to innovation and diversification in response to evolving industry dynamics and competitive pressures.