Danske Spil announced record profit despite gambling revenue decline

5 Mar 2020

The Danish state-owned gambling operator Danske Spil has announced a record net profit for 2019 and at the same time the local gambling regulator, Spillemyndigheden, keeps on confining its international competitors.

More specifically, Danske Spil reported a total revenue of DKK5b ($745.6m) in 2019. A decline of 1.6% compared to 2018. The Danske Lotteri Spil lottery in particular announced that its sales declined 3.8% to DKK2.56b. At the same time, the Danske Licens Spil online sports betting and casino unit, reported a 1.8% rise to its sales, amounting to just about DKK2b.

It is worth noting that during the first half of 2019, the online gambling sector got a significant boost from the takeover of the online casino operations of the local slots operator Tivoli A/S by Danske Spil. Nonetheless, during the second half of 2019, online revenue dropped due to the imposition of new deposit limits.

It is also worth mentioning that Danske Spil announced a record net profit of DKK1.9b in 2019. Nevertheless, that particular figure dropped by DKK377m during last year’s sale of the firm’s 60% stake in gaming provider CEGO; which is behind the Spilnu.dk online casino.

Danske Spil is expecting that both revenue and profits will be lower in 2020 due to the following three reasons: 1) New online payment restrictions 2) High costs of launching a brand new land-based sports betting unit 3) 40% tax hike for gambling operators.

However, the Danish government is clearly supporting Danske Spil and as a matter of fact, the country’s gambling regulator, Spillemyndigheden; has recently announced that it is determined to reduce the number of international betting sites that accept Danish bettors and operate without having a local permit. More specifically, 502 websites were examined in total and 25 of them were deemed illegal and their IPs are expected to be blocked soon.

Join and grab exclusive bonuses, daily offers and free bets!

Lay hands on exclusive daily bonuses for members only. These promos are limited and are not advertised on the website.

Yes, I have read the Terms & Conditions and I consent to receiving emails from Bookmakers.bet regarding betting promotions, betting guides and news.

BOOK SPY

The Swedish bookmaker Betsson enters the Kenyan betting market via its Betsafe brand, which will be operated by the local company Bet High. The Kenyan...

Read more »

LeoVegas announced last week that players are from now on able to use open banking as a payment method on its website. The so-called PSD2 (The Revised...

Read more »

On Thursday, Canada’s Minister of Justice David Lametti announced that the federal government would amend the Criminal Code’s sports betting provision...

Read more »

The Malta Gaming Authority (MGA), the well-respected regulatory body, has introduced a new online platform that will allow bookmakers to report suspic...

Read more »

The Danish gambling market experienced a 5% revenue drop year-on-year (YOY) for Q3 2020. According to figures from the Spillemyndigheden (Danish Gambl...

Read more »

The UK-based bookmaker Spreadex has been named the EGR Awards 2020 spread betting operator of the year. The annual EGR Awards are organized by the eGa...

Read more »

GVC Holdings PLC has embarked on a new sustainable growth strategy that includes the rebranding of the company as Entain and the decision to pull out ...

Read more »

Kambi Group, the renowned provider of sports betting services to licensed online gambling operators, reported €28.1m in revenue for Q3 2020. This mean...

Read more »

The online gambling operator LeoVegas posted its financial results for the three-month period (Q3) up to September 30, 2020. The generated revenue was...

Read more »

Norwich City announced a new betting partnership with the acclaimed bookmaker 888sport. The renowned betting brand does not only have a strong presenc...

Read more »

Latest Betting Offers