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.

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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.”