Denmark’s state-owned national lottery operator Danske Spil has revealed that despite its losses in the first half of 2020 due to COVID-19 effects, it is now ‘back on track’ to meet its full-year performance projections.
Having released figures earlier in the week, Danske Spil revealed that it has generated revenues of DKK2.3b (US$365.3m) in the six months ending June 30, down 7.8% from H1 2019. With this being said, operating profit was flat at DKK1.67b and profit slipped only 2.9% to DKK794.4m.
In addition to releasing its figures, the Danish organisation also discussed its COVID-reaction, revealing it reduced expenses, particularly on the marketing front in response to the health pandemic. Gaming taxes and commissions were also lower due to COVID-19 thus reducing Danske Spil’s general operations.
Regarding its lottery division, Danske Lotteri Spil, the facet reported increased revenues of DKK1.3b, up 5.2% year-on-year. This increase has been put down, in part, to a host of extra-large prizes on offer, particularly via the Eurojackpot lottery.
Despite the lottery success, Danske Licens Spil’s online casino/betting division reported a 15.7% year-on-year revenue decline to DKK894.4m.
Additionally, the COVID-19 period also forced Danske Spil to temporarily shut it’s Youbet betting site in April after its SBTech platform provider mistakenly authorised customers to bet on under-18 Swedish football.
Having taken over the role of chairman in June, Danske Spil chairman Peter Christensen, has described the first half of 2020 as challenging. With this being said, he praised the company for its response to the health crisis and revealed he now expects an annual after-tax profit of between DKK1.3b-1.4b by the end of the year.