Online Gaming Revenue Surpasses Land-Based Revenue in Lithuania
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%