Danske Spil lottery growth offsets iGaming decline

The company saw slight growth in Q1 despite Covid-19 impact from mid-March.
The company saw slight growth in Q1 despite Covid-19 impact from mid-March.

Following a record year in 2019, total revenue for the first quarter of 2020 reached DKK 1.23billion (€164.8million).

Denmark.- Danske Spil saw revenue grow by just 0.8 per cent in Q1, with lottery growth making up for declines in other areas.

Following a record year in 2019, total revenue for the first quarter of 2020 reached DKK 1.23billion (€164.8million).

DKK640.4million (€85.9million) came from the state-owned Danish operator’s lottery arm, Danske Lotteri Spil, while the Covid-19 pandemic impacted on its iGaming division, Danske Licens Spil, and its gaming hall machines division, Elite Gaming.

Elite Gaming’s Q1 revenue declined by 18.7 per cent to DKK75.3million (€10.1million) owing to the implementation of a Covid-19 lockdown in Denmark from March 13. The country was one of the first in Europe to introduce such measures.

Danske Licens Spil’s revenue fell by 0.8 per cent to DKK511.3million owing to the decline in sports betting following the cancellation of sports events.

Due to some cost declines, operating profit for the quartet was up by 5 per cent to DKK860.4million (€115.4million), but a rise in financial costs brought net profit for the quarter down by 6.4 per cent year-on-year to DKK398.1million €53.4million)

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Denmark finance lottery