Baltics

Online Gaming Revenue Surpasses Land-Based Revenue in Lithuania

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4 years ago

August 11, 2020

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%

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.