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

Betfair announced that it has launched a new service called ‘MatchMe’. It acts as a betting advisor and allows players to edit their bets on the excha...

Read more »

The Russian-licensed betting site of Bwin, Bwin.ru, has stopped its operations in the Russian market. Last weekend, players from Russia were being dis...

Read more »

The Malta Gaming Authority (MGA) has announced that seven bookmakers have been removed from its list of licensees during the first half of 2020. The c...

Read more »

The renowned bookmaker Parimatch has been approved to acquire a license from the Ukrainian gambling regulator, the Commission for the Regulation of Ga...

Read more »

Every day we get bombarded by dozens if not hundreds of extravagant remarks by various online sportsbooks claiming to be the best when it comes to odd...

Read more »

Betfred has agreed to become the title sponsor of 2021 Challenge Cup, Women’s Challenge Cup and Wheelchair Rugby League Challenge Cup. Betfred has bee...

Read more »

Betfair recently secured an operating license from the Colombian betting regulator Coljuegos. This license allows the renowned bookmaker to operate le...

Read more »

Betzest has signed a deal with Zimpler, one of the most renowned payment methods. Zimpler is especially popular in Finland, and it offers bettors inst...

Read more »

Bet365 CEO Denise Coates and her family have topped the British taxpayer list, for a second year in a row. According to the recently published UK Tax ...

Read more »

Bet-at-home, Betclic Everest subsidiary, has raised its earnings estimates for 2020 to €30.9m, following a very positive fourth quarter (Q4). The (EBI...

Read more »

Latest Betting Offers