Danske Spil reports record annual net profit
The state-controlled gambling operator saw a rise in profitability despite a slight dip in gross gaming revenue.
Denmark.- Danske Spil, Denmark’s state-owned gaming operator, has reported its strongest financial results yet, achieving record net profit of DKK 2bn (€268.8m) in 2025. The figure surpasses the previous year’s figure of DKK1.95bn and underscores both the resilience of the lottery sector and the operator’s continued expansion in online gaming in Denmark.
Although gross gaming revenue (GGR) dipped slightly to DKK5.16bn, the company sustained profitability through efficiency measures and adjustments to its product portfolio. Around 70 per cent of Danske Spil’s sales now take place online, compared with 30 per cent through physical outlets.
Danske Lotteri Spil, the company’s lottery arm generated DKK3.01bn in revenue and DKK1.70bn in profit. While fewer large jackpots led to a slight revenue dip, demand remained strong, supported by scratchcards and seasonal campaigns. Klasselotteriet, another traditional lottery product, grew revenue by 11 per cent year-on-year, driven by subscriptions and digital payment adoption.
While lottery remained the backbone of operations, competitive licensed gaming activities in sports betting and online casino generated DKK1.58bn in revenue and DKK171m in profit. Online casino products continued to grow, while sports betting slowed compared to the surge seen during major sporting events in 2024.
Danske Spil reported that in 2025, it contributed DKK3.15bn to Danish society via taxes, dividends, and lottery funding. Of this, DKK1.79bn supported sports, cultural, and community projects nationwide.
For 2026, Danske Spil forecasts stable performance, with revenue between DKK5.2bn and DKK5.3bn and net profit ranging from DKK1.95bn to DKK2.05bn. The report highlights intensifying competition, with Stake recently entering the Danish market, but forecasts renewed momentum from sports betting during the FIFA World Cup.
Chief executive officer Nikolas Lyhne-Knudsen said: “The group has delivered solid financial results in a market that has become more complex and competitive in several areas. The result is evidence of a robust business in which we manage to balance development, responsibility and long-term value creation even when conditions are changing.”
These were Danske Spil’s first annual results since the appointment of Lars Krarup as chairman last year. The operator has since welcomed the Danish government’s announcement of new rules for gambling advertising in Denmark’s Gaming Package 1. That includes a whistle-to-whistle ban on gambling ads during sports broadcasts.
There will also be a ban on the display of live odds on stadium banners, restrictions on the use of celebrities and influencers and a ban on gambling ads on public transport and near schools. Lyhne-Knudsen said the reforms were “a necessary and responsible move for the future of Denmark’s gambling market”, noting that Danske Spil had already imposed some of the measures on a voluntary basis.
