April 29, 2020

Lithuanian gambling revenue for Q1 declines due to Covid-19

Lithuanian gambling revenue for Q1 declines due to Covid-19

Lithuania—The country’s gambling market witnessed the decline in revenue for the first quarter of 2020 by 2.8% year-on-year to €25.9 million. While there was an increased online contribution, it wasn’t enough to offset land-based declines due to the novel coronavirus (Covid-19) pandemic.

However, despite the decrease in revenue, turnover across all licenses went up by 13.8% to €296.5 million in the three months to March 31. This was down to a significant increase in contribution from online betting and gaming, which went up by 54.2% to €201.2 million, which means the channel responsible for 67.9% of market turnover in the first quarter. Because land-based venues in Lithuania were shut down from March 16, turnover for the channel went down by 20.8% to €94.3 million.

Online gambling revenue, on the other hand, went up by 39.1% to €11.8 million. Despite the cancellation of major sports events all around the world, betting revenue went up by 14.6% to €6.0 million, with amounts wagered going up €111.0 million—a 15.6% increase.

Category A online slots (those with no limit on winnings) made up about €5.3 million in revenue (up by 85.2%), and amounts wagered increased by 165.0%.

Category B slots (those with stakes capped at €0.5 million) witnessed a 14.5% increase in revenue to €243,678 on stakes of €2.1 million, up by 29.5%.

Meanwhile, online table game revenue went up by 59.8% to €165,541 from bets wagered of €230,750—a 36.1% increase.

The land-based market, however, went through hard times due to the Covid-19 enforced shutdowns. This led to the decline in revenue by 23.3% to €14.1 million.

© Copyright 2019. Casino Ad.
Translate »