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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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Pariplay® adds Kero Gaming Micro Betting Product Suite to Fusion® platform

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NeoGames S.A subsidiary Pariplay®, the leading aggregator and content provider, has further enhanced its Fusion® platform offering through its latest partnership with Kero Gaming (“Kero”), which will see sports betting options added to the aggregator for the first time.

Kero, a leading supplier of micro betting data feeds, products and services will integrate its full product suite onto the Fusion platform.  The Kero platform allows players to watch, bet and chat by combining dynamic, next-play betting markets, live chat for player socialization and the live stream of any match into a single entertainment destination within the sportsbook.Kero’s micro betting technology is uniquely powered by a recommendation engine that leverages proprietary algorithms to create contextually relevant betting markets that are delivered to players, creating a casino style sports betting experience where players can bet on any individual play or moment throughout the course of every match.

The latest provider relationship boosts the wide variety of content available on the rapidly expanding Fusion® platform into the sports betting sphere as Pariplay® maintains its focus on providing enhanced entertainment value for players in regulated markets worldwide.

The Fusion® aggregation offering features over 14,000 games from more than 150 of the industry’s leading game developers and a suite of back-office conversion and retention tools that enhance player value.

Ashley Bloor, Director of Partnerships at Pariplay®, said: “Our content deal with Kero Gaming Inc.      demonstrates our position as one of the world’s pioneering gaming aggregators and we are thrilled to be welcoming its portfolio onto the Fusion® platform.

“With both parties solidifying themselves as visionary forces in the industry, we are confident the partnership will spearhead success as we branch into new sports betting technologies and will resonate with players globally.”

Tomash Devenishek, CEO at Kero Gaming Inc., added: “We at Kero are continually striving to innovate and enhance the sports fan experience by integrating our advanced recommendation technology with real-time micro markets. Pariplay stands out as a leader, powering some of the most renowned global brands. Our shared clientele lays a solid foundation for this collaboration.

“This partnership represents a significant stride towards delivering exceptional sports betting products globally. We are thrilled to embark on this journey with Pariplay as our partner.”

The post Pariplay® adds Kero Gaming Micro Betting Product Suite to Fusion® platform appeared first on European Gaming Industry News.

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NetBet Casino Joins Forces with Stakelogic

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NetBet and Stakelogic have finalised a collaborative agreement that will bring Stakelogic’s games to NetBet customers in the Danish region.

Despite only being founded in 2014, Stakelogic has quickly established themselves as a major player in the world of online gaming. Their reputation as an industry disruptor has been recognised, with the company being shortlisted for the prestigious categories of Industry Innovation of the Year and Innovation in Casino Entertainment at the SBC Awards 2023.

Among the many games that are available to NetBet Denmark customers as a result of the partnership with Stakelogic are Book of Cleopatra Super Stake Edition, Volcano Deluxe and Bandits Thunder Link.

NetBet Denmark’s PR manager, Claudia Georgevici, said: “At NetBet, we understand the importance of providing our players with as many unique games as possible, to ensure they have the best possible gaming experience. Stakelogic has a library of innovative titles, which makes them the ideal partner to help us expand our offering to our customers in Denmark.”

Players in Denmark are now able to try out these games for themselves when they log in to their NetBet accounts.

The post NetBet Casino Joins Forces with Stakelogic appeared first on European Gaming Industry News.

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PRAGMATIC PLAY EXTENDS PARTNERSHIP WITH VEGANGSTER

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Pragmatic Play, a leading content supplier to the iGaming industry, has expanded its collaboration with renowned iGaming platform provider Vegangster to include Auto Mega Roulette and other popular Roulette titles.

The deal will further boost the relationship between the two parties, following an initial agreement in 2020 which saw Pragmatic Play roll out its Slots portfolio to the platform provider.

Vegangster, known for its commitment to offering cutting-edge gaming experiences, will now feature Pragmatic Play’s renowned live Roulette games across its prominent online casino brands.

Pragmatic Play continues to power up new possibilities of play in Live Casino, offering traditional table games such as Roulette alongside original and highly immersive game shows and variants.

Irina Cornides, Chief Operating Officer at Pragmatic Play, said: “This new agreement between Pragmatic Play and Vegangster highlights the strength and success of our Live Casino portfolio, with Roulette and Auto Mega Roulette ranking among our most popular live products.”

Daria Filipska, Head of Sales at Vegangster, added: “We’re constantly seeking to enrich our gaming offerings with top-quality content that resonates with our global audience. Our expanded partnership with Pragmatic Play signifies our commitment to providing players with the best gaming experiences available and we are excited to integrate Auto Mega Roulette and other Roulette titles into our platform.”

The post PRAGMATIC PLAY EXTENDS PARTNERSHIP WITH VEGANGSTER appeared first on European Gaming Industry News.

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