Danske Spil Restricts Financial Impact of Covid-19

Danish national lottery Danske Spil has limited the adverse financial impact of Covid-19 outbreak by reducing costs and increasing sales, according to the financial report for the first half of 2020.

The year on year profit suffered a slight decrease of 2.9% and revenues dropped by 7.8%.

The company’s board said in spite of the minor hiccups, it stays on track to reach the original financial targets for the year.

The company’s estimated annual revenue is between DKK4.5bn and DKK4.7bn for the year and profit between DKK1.3bn and DKK 1.4bn.

Danske Spil’s statement said: “Overall, Danske Spil has succeeded in maintaining a satisfactory turnover at its casino and several of our other consumer facing offerings.

“Combined with a reduction in the company’s costs – not least the marketing costs – this has meant that Danske Spil is back on track in relation to its [full year] profits.”

“Covid-19 saw sporting events across the globe cancelled and thus put a stop to most sports betting and simultaneously the lockdown of Danish society affected all of our customers as well as physical venues and arcades.”