March 8, 2024 2 min read


Danske Spil Posts FY 2023 Results, Highlights 6% Increase in Net Income

The company ended the year with favorable metrics despite certain setbacks

Danske Spil, Denmark’s state-owned lottery and betting operator, has published its FY 2023 results, reporting a slight increase in overall revenue. Data shows that the company’s lottery businesses fared well but the casino and sports betting businesses experienced a decline.

Revenue in 2023 reached DKK 5.04 billion ($0.74 billion), up from DKK 4.98 billion in 2022. The Danske Lotteri Spil division remained the biggest driver of revenue, generating DKK 2.87 billion ($0.42 billion) in revenue. This is notably a record-breaking number that also represents an increase of 2.5% year-on-year. According to Danske Spil, the favorable result was driven by its new releases and the extra Eurojackpot draw it introduced.

In the meantime, the Danske Klasse-lotteri division, which was integrated into Danske Spil’s business two years ago, experienced a stellar increase of 30.1% year-on-year. The division ended 2023 with a total revenue of DKK 250.4 million ($30.12 million).

On the contrary, Danske Spil’s other divisions experienced setbacks.

Danske Licens Spil, the company’s sports betting and iGaming division, for example, saw revenue decline to DKK 1.61 billion ($0.24 billion), which represents a 3% decrease. According to the Danish operator, the unfavorable figure was due to unusually high win rates and fierce competition.  

Elite Gaming, Danske Spil’s land-based brand, on the other hand, experienced a decline of 3.2% to DKK 289.9 million ($42.5 million).

Finally, the Swush fantasy sports platform saw revenue plummet to DKK 11.7 million ($1.72 million). This figure represents an unfortunate 27.3% decline year-on-year. This could potentially explain Danske Spil’s recent decision to transfer its 60% ownership in Swush to Ekstra Bladet.

Other Company-Wide Metrics

Danske Spil reported a number of other company-wide metrics, including its net profit, which soared by 5.9% in 2023. Danske Spil also declared DKK 32.9 million ($4.82 million) in other income.

2023 also saw the company contribute DKK 644.7 million ($94.5 million) to taxes and reported DKK 247.5 million ($36.3 million) in depreciation and write-downs. External costs and staff expenses stood at DKK 1.16 billion ($0.17 billion), while finance costs reached DKK 33.9 million ($4.97 million).

After expenses, Danske Spil was left with an operating profit of DKK 3.69 billion ($0.54 billion) and a pre-tax profit of DKK 2.35 billion ($0.34 billion). This left Danske Spil with a net profit of DKK 1.82 billion ($0.27 billion).


Although Fiona doesn't have a long-spanning background within the gambling industry, she is an incredibly skilled journalist who has built a strong interest in the constantly growing iGaming network. The team at is glad to have her on our roster to help deliver the best stories as soon as they hit. Aside from writing, she loves to dabble in online casino games such as slots and roulette, both for her own enjoyment and also as research to better improve her understanding of the industry.

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