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Danske Spil’s H1 Revenue Declines

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Danske Spil, the state-controlled gaming operator in Denmark, has witnessed a moderate reduction in its year-on-year gross gaming income in the first half of the year – mainly because of its move to divest its stake in CEGO, a games development studio proved pivotal. The mounting costs also played a part in the decline of the net profit.

The company recorded a revenue for gross gaming for the 6 months to the 30th of June, 2019 totaled DKK2.49 billion (£301.3 million/ €333.9 million/ $367.6 million), down from DKK2.54 million last year.

The company spokesperson said this was because they sold their stake in CEGO to the original owner of the studio and the private equity fund through Equity III. The sale happened towards the end of June, with the company selling off a whopping 60% of the stake they bought in 2014 for a sum that was never disclosed.

With regards to the ongoing operations, income from the lottery division of Danske Lotteri Spil also dropped from DKK1.37 billion to DKK1.24 billion. This is still the company’s major source of income as it what’s been keeping them afloat.

Revenue from the online gaming division of Danske Licens Spil rose from DKK977 million to DKK1.06 billion. However, slot manufacturer business and the gaming hall Elite Gaming offered an extra DKK188.9 million in income, flat year-on-year.

On the other hand, the operator saw their income from Swush fantasy sports business reduce from DKK8.5 million to DKK3.9 million.

Talking about the results, Susanne Mørch Koch, Danske Spil’s chief executive, was of the opinion that the results were okay and expressed satisfaction with the performance in the first quarter. She added that the company was fully committed to improving its digital offering.

Koch specifically mentioned the acquisition of Tivoli Casino, the online casino that is named after the amusement park in Copenhagen, as an important highlight in the time.

“We have succeeded in maintaining the healthy operation of the company and at the same time continuing and intensifying our digital development, which further strengthens Danske Spil’s position with our customers and helps to grow Danske Spil’s market share,” Koch said.

“At the same time, we have completed two large transactions and thus strengthened our core business. Danske Spil took over Tivoli Casino and sold its share of CEGO; a sale that took place on terms that were very satisfactory for Danske Spil and our owners.”

The expenditure at Danke Spil also saw a reduction from DKK1.78 billion in 6 months of 2018 to DKK1.67 billion in 2019. Staff costs increased from DKK136.7 million to DKK148.9 million, while write-downs and depreciation rose from DKK81.5 million to DKK126.1 million

Danske Spil was able to save cost in other areas, with other external expenditure cut from DKK399.7 million to DKK359.9 million.

However, in spite of reduced overall spending, profit before tax reduced from DKK1.16 bilion to DKK1.05 billion, while net profit for that period dropped from DKK928.0 million to DKK872.8 million.

Peter Gæmelke, the operator’s chairman said the results were quite satisfactory.

“We have succeeded in having a solid operation while also making significant changes in the way we do things in Danske Spil,” he went on to explain. “We on the board would like to emphasise that the business has continued its digital transformation, while at the same time focusing on our core business, and remaining the best and most available gaming company in Denmark.”

“I am pleased that we have also taken significant steps in 2019 to ensure that we live up to these goals.”


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Danske Spil’s H1 Revenue Declines

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Kore Digital Mining Ltd Announces Additional 14 PH/s Bitcoin Mining Capacity

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Kore Digital Mining Ltd, a UK based Bitcoin mining company, announces that effective 1st May 2024, an additional 14 PH/s mining capacity will be added to its existing infrastructure.

This additional capacity will be provided by a major Bitcoin mining corporation and will be operational until 30th June 2024.

Derek Nisbet, Kore’s Founder & CEO, said – “We are pleased to work with a leading Bitcoin Miner in securing a large amount of mining capacity, for a 2 month trial period. We look forward to hopefully extending this period and engaging more with major mining corporations offering Bitcoin hashing opportunities, in the future.”

This additional 14PH/s Bitcoin mining capacity adds to the existing 2 PH/s currently operational with Kore’s own infrastructure and an additional 4 PH/s is due to be added over the next quarter, totalling 20 PH/s.

The post Kore Digital Mining Ltd Announces Additional 14 PH/s Bitcoin Mining Capacity appeared first on European Gaming Industry News.

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William Hill Announced as Official Betting Partner of Qipco Guineas Festival

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Leading bookmaker becomes official betting partner of first UK Classic meeting of 2024

William Hill has been announced as the new official betting partner of the Qipco Guineas Festival, the first UK Classic meeting of the season.

It’s the latest addition to William Hill’s spring racing roster, following sponsorship of The Lincoln Handicap at Doncaster, the Punchestown Champion Chase and its status as official betting partner of the Randox Grand National Festival.

The 2,000 and 1,000 Guineas headline the three-day meeting and the leading bookmaker will sponsor 15 races across the weekend with the Jockey Club Stakes, Palace House and Dahlia Stakes among the races now featuring the William Hill title.

Aidan O’Brien’s unbeaten superstar City of Troy is still all the rage for the 2,000 Guineas at 4/6 whereas Karl Burke’s Fallen Angel heads a competitive looking 1,000 Guineas market at 7/2.

“We’re delighted to become the official betting partner of the Qipco Guineas Festival, strengthening our relationship with The Jockey Club on the back of a fantastic Grand National Festival,” a spokesperson for William Hill, Lee Phelps, said. “It’s brilliant for William Hill to be associated directly with such a prestigious event at Newmarket, the home of the thoroughbred, for this season’s first two Classics. The company has a close connection with the history of the 2,000 Guineas as William Hill himself bred the 1949 winner, Nimbus, who then went on to win the Derby.

“We’re excited to be involved at racing’s key meetings and see the Qipco Guineas Festival as the perfect sponsorship as the British flat season kicks into gear.”

Newmarket – 2,000 Guineas: May 4, 2024

City Of Troy 4/6
Rosallion 4/1
Notable Speech 12/1
Henry Longfellow 12/1
Night Raider 16/1
Alyanaabi 16/1
Ancient Wisdom 16/1
Task Force 16/1
Ghostwriter 16/1
Iberian 20/1
BAR 25/1

Newmarket – 1,000 Guineas: May 5, 2024

Fallen Angel 7/2
Ylang Ylang 4/1
Dance Sequence 5/1
Ramatuelle 10/1
See The Fire 12/1
Content 12/1
One Look 14/1
Pretty Crystal 14/1
Buttons 20/1
Purple Lily 20/1
Porta Fortuna 20/1
Star Style 20/1
BAR 25/1

The post William Hill Announced as Official Betting Partner of Qipco Guineas Festival appeared first on European Gaming Industry News.

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Midjiwan Supports Reforestation Efforts With New Elyrion Tribe Skin In The Battle Of Polytopia

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Midjiwan, the award-winning independent studio behind The Battle of Polytopia, is celebrating Elyrion (∑∫ỹriȱŋ) Tribe Week with a brand-new Midnight (₼idŋighţ) skin and donations to support reforestation.

Tapping into the Elyrion Tribe’s nature magic abilities, every purchase of an Elyrion item in the game will plant one real-world tree from April 22-28 2024. Midjiwan has teamed up with The Canopy Project, an organisation that works with global partners to reforest areas in urgent need of rehabilitation, combining The Battle Of Polytopia’s themes with a desire to make real change in the world. Previous years of Elyrion Tribe Week have resulted in the planting of over 12,000 trees.

The Elyrion Tribe is a mysterious group of elves, dedicated to defending their woodland home with their unique magic and connection with nature. Players using the Elyrion tribe have the ability to enchant animals into Polytaurs and summon powerful Fire Dragons.

Christian Lövstedt, General Manager at Midjiwan, commented:

“This is a hugely exciting partnership, allowing players to support the planet and contribute to reforestation whilst also accessing brilliant new content to use in The Battle Of Polytopia.”

Alongside donating to The Canopy Project, The Battle Of Polytopia also boasts a brand-new skin for the Elyrion Tribe! The Midnight skin allows players to create graves, build crypts, and summon demons in dark forests, all in service of the mysterious Shard of D’Naeh.

The Midnight skin re-skins the entire Elyrion Tribe as the Midnight Cult. Everything the Elyrion Tribe is all about – nature, enchantment, and sanctuary – is turned on its head, corrupted into a dark, twisted dystopia of itself.

Midjiwan has already invested €250,000 in solar power projects in rural areas around Africa, and other charitable projects. The studio continues to seek opportunities to combine its in-game creativity with real-world benefits. The Battle of Polytopia is available on Nintendo Switch, the App Store, Google Play, PC, and Tesla cars.

The post Midjiwan Supports Reforestation Efforts With New Elyrion Tribe Skin In The Battle Of Polytopia appeared first on European Gaming Industry News.

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