Danske Spil posts flat full-year revenue of DKK4.8bn for 2021
State-owned Danish operator records revenue of DKK4.8bn, up from 2020 but still below pre-pandemic levels
Danske Spil has reported a DKK94m (£10.42m) increase in revenue to DKK4.8bn in 2021 compared to 2020.
The majority of this revenue came from lottery operations which were DKK2.79bn, up from DKK2.63bn in 2020. In addition, the Danish operator’s sports betting and gaming section posted revenue of DKK1.82bn.
The Elite Gaming portion of the firm added DKK207.8m, and the fantasy sports platform Swush contributed DKK15.1m.
Online gambling accounted for 58% of gross gaming revenue (GGR) in 2021, which is an increase of 8% compared to 2020.
Once the firm paid state taxes of DKK616m, dealer commissions of DKK473m, other gaming-related expenses of DKK278m and depreciation and write-downs of DKK370m, the company had an EBIT of DKK2.1bn.
After income tax was taken, this left the operator with a profit for 2021 of DKK1.63bn, which is up 11.6% from the DKK1.46bn posted in 2020.
However, while this shows the firm has made massive strides in the year, this number is still lower than any results posted since 2017, with the lowest of those being posted in 2017 (DKK1.66bn).
Commenting on the operator’s performance in 2021, Danske Spil CEO Nikolas Lyhne-Knudsen said: “The profit after tax in the Danske Spil Group was DKK1.63bn in 2021. This is an improvement of more than 10% in relation to the profit after tax in 2020 of DKK1.46bn.
“The year ended with a record profit after tax of DKK1.48bn. It is a result of innovation and new products, successful sales and effective marketing, digitisation and a strengthening of the subscription business, where Danske Lotteri Spil in 2021 received a total of approximately 7,500 new customers.
“In 2021, we have again increased our focus on responsibility and on creating the greatest possible value for Danish society. We have an attitude to entertainment. We are responsible for responsible entertainment that creates dreams and experiences,” Lyhne-Knudsen added.
Danske Spil also set out its expectations for 2022 in its annual report.
It projects GGR in to be in the range of DKK4.8 to DKK5bn in 2022, with profit after tax at DKK1.6-1.7bn. The GGR for the Elite Gaming section of the business is forecast to increase due to the opening of gaming halls for most of the year, whilst other business areas are anticipated to be on par with 2021 overall.