Online Gaming Revenue Surpasses Land-Based Revenue in Lithuania

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Revenue from online gaming has overtaken that from land-based outfits in Lithuania for for the first time in history. The Covid-19 pandemic has also brought about a 15.9% decline in overall gaming revenue as well. The country recorded an overall revenue of €43.8 million in the first half of the financial year.

The total amount wagered showed a 6.8% increase and touched €540 million during the period year on year. However, since a majority of the wagers were made online where the profit margins are thinner than that of land-based gaming, the gross gaming revenue (GGR) slipped.

Online stakes rose by 49.9% to €407.1million, bringing in revenue of €23.4million, an increase of 33.9%.

The category-wise revenue split up is given below:

  • Online Category A slots – €12 million, an increase of 86.8%
  • Online Category B slots – €570,000, an increase of 38.9%
  • Online table games – €359,000, an increase of 87.2%
  • Online sports betting – €10.4 million, a decrease of 0.1%
  • Land-based gaming – €20.4 million, a decrease of 41%
  • Land-based Category A slots – €3.8 million, a decrease of 34.6%
  • Land-based Category B slots – €9.2 million, a decrease of 40.3%
  • Land-based table games – €4.8 million, a decrease of 43.5%

Zoltan Tundik

After starting out as an affiliate in 2009 and developing some recognized review portals, I have moved deeper into journalism and media. My experience has lead me to move into the B2B sector and write about compliance updates and report around the happenings of the online and land based gaming sector.

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