Danske Spil Announces H1 Revenue Drop

September 6, 2019 by

For the first quarter, Danske Spil placed a small decrease in total gaming revenue year-on-year down to its choice to divest its interest in CEGO games production studio, while increasing expenses saw the net profit decrease of the Danish state-controlled operator. For the six months to 30 June 2019, gross gaming revenue amounted to DKK2.49bn (£ 301.3m/€3333.9m/$367.6 m), down from DKK2.54 m in the same era last year. Danske Spil said this was mainly due to the purchase of its interest in CEGO to the initial holders of the studio and the Via Equity III private equity fund before the end of June, with Danske Spil unloading the 60 per cent interest it obtained for an unspecified amount in 2014.

In spite of on going activities, revenue from the Danske Lotteri Spil lottery division has slipped from DKK1.37bn to DKK1.24bn, but remains as the company ‘ primary source of revenue. Income from the Online Gaming Division of Danske Licens Spil increased from DKK977 m to DKK1.06bn, while the Elite Gaming gaming club and slot maker received an extra DKK188.9 m in income year-on-year.

The operator, however, saw income falling from its Swush fantasy sports company from DKK8.5 m to DKK3.9 m. Reflecting on the outcomes, Susanne Mørch Koch, Chief Executive of Danske Spil, said she was happy with the performance in H1, stating that the provider stays dedicated to improving its digital product. The purchase of Tivoli Casino, the online casino named for the Copenhagen amusement park, was an important step for the studio.

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