Lithuania: gambling revenue dips in 1Q20

Gambling revenue for Lithuania’s regulated market dipped 2.8 per cent year on year to €25.9million in 1Q20.

Lithuania.- Gambling revenue for Lithuania’s regulated market dipped 2.8 per cent year on year to €25.9million in 1Q20.

Despite an increase in online revenues, the Coronavirus crisis has hit the country’s land-based gambling sector.

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

This was due to a significant jump in contributions from online betting and gaming, which climbed 54.2 per cent to €201.2million, accounting for 67.9 per cent of market turnover in Q1.

Lithuania’s land-based venues have been closed since March 16, leading to a 20.8 per cent YoY fall in turnover to €94.3million during the quarter. 

Despite major sports events being cancelled during the period, betting revenue grew 14.6 per cent to €6million with amounts wagered rising to €111million representing a 15.6 per cent increase.

Meanwhile, online table game revenue hit €165,541 from stakes of €230,750, which representing a 36.1 per cent increase.

Unlike online betting, land-based sports betting was hit hard by the sporting shut-down, with revenue dropping 33.6 per cent to €1.8million. Amounts wagered on sports also dropped, falling 27.7 per cent to €26.6million.