Danske Spil announces record DKK1.9bn profit for 2024 as online presence grows
State-owned operator notes that several responsible gambling schemes impacted GGR total, while online casino market is “growing” in Denmark
Danske Spil has reported post-tax profit of DKK1.9bn (£214m) for 2024, representing a 7% year-on-year (YoY) increase and a record total for the Danish state-owned operator.
The figure represents a rise of DKK124m from the profit recorded in 2023, while the company’s gross gaming revenue (GGR) followed a similar trajectory, achieving another record total of DKK5.3bn.
Bosses attributed the strong GGR performance mainly to “favourable development” in the operator’s lottery arm, as well as “product innovation”.
Analysing Danske Spil’s GGR by vertical, lottery was the most significant contributor, generating DKK3.1bn, climbing 7% YoY from the DKK2.8bn posted in 2023.
The online casino and sports betting segment, Danske Licens Spil, contributed DKK1.6bn, a marginal climb of 1% YoY from 2023’s total.
That increase was due to growth in the operator’s online casino segment, with management noting that the “market is growing” in Denmark.
Growth was also aided by a new online casino app, which was launched in May, designed to be a “differentiator” in the market, as well as eight new games developed in-house.
Danske Spil’s class lottery, Klasselotteri, posted GGR of DKK255m, marking a 2% rise YoY and its highest amount generated since 2020.
With lottery remaining Danske Spil’s most lucrative division, the company has disclosed that while it will continue to prioritise land-based lottery efforts, there is now an added focus on strengthening its online offering.
The operator’s 2024 report disclosed that 67% of its customer base wagered via its website or app, marking a 3% YoY increase, with the remaining 33% betting in retail locations.
The firm’s annual report notes that 2024 saw a record total of distribution funds, reaching DKK1.8bn and climbing DKK137m from 2023.
In a bid to promote responsible gambling practices, Danske Spil introduced several schemes for online casino and sports betting players, which included lower deposit limits and lower bonuses.
Those initiatives changed the composition of the operator’s GGR, with players wagering smaller amounts. On average, customers spent less money, but the number of customers increased.
For example, there was an 11% climb in the number of Danes betting on Denmark’s men’s national football team during Euro 2024 last summer.
However, the value of the bets fell by 44% compared to the previous edition of the competition, in line with the operator’s strategy of ensuring healthier gambling habits.
Reflecting on the firm’s safer gambling schemes, Danske Spil CEO Nikolas Lyhne-Knudsen explained: “We are proud that, alongside economic growth, we have also increased our efforts for healthy gambling habits.
“We have succeeded in reducing the proportion of customers we are most concerned about by 59% since 2021, and in the past year alone, the reduction is 32%.”
He added: “In early summer 2024, we launched a new initiative, which aims to create awareness and dialogue about a healthy gambling culture.
“Among other things, we have launched a new web-based prevention universe in collaboration with the Research Clinic for Gambling at Aarhus University Hospital, focused on the area in connection with our main sponsorship of Brøndby IF, and the message now appears more clearly in marketing for the licensed games.”
Issuing an optimistic update outlook for 2025, Lyhne-Knudsen continued: “2025 will be an exciting year for Danske Spil.
“We look forward to delivering entertainment in a safe environment and continuing to contribute to the Danish community. With talented colleagues, loyal customers and strong partners, we look forward to creating results that make a difference.”
Danske Spil has said GGR should land between DKK5.1bn and DKK5.3bn this year, with profit ranging between DKK1.9bn and DKK2bn.