Lithuania gets less from gambling in Q1 2020

Lithuanian gambling industry generates less revenue due to Coronavirus crisis.  Legal market falls 2.8% year on year to €25.9million in Q1 2020.

The crisis has the biggest impact on the country’s land-based gambling. Lithuania’s offline venues have been closed since March 16, which resulted in a 20.8% fall in turnover to €94.3million during the quarter.

Despite the slight drop in revenue, turnover across all licensees was up 13.8% to €296.5million in the three months to 31 March.

Online gambling revenue grew 39.1% to €11.8m. Despite the suspension of sports across the globe, betting revenue grew 14.6% to €6.0m, with amounts wagered rising €111.0m, a 15.6% increase.

Despite major sports events being cancelled during the period, betting revenue grew 14.6 %  to €6million with amounts wagered rising to €111million representing a 15.6 % increase. However, land-based sports betting dropped 33.6 % to €1.8million.


Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *