Portugal achieves yet another iGaming revenue record
The second quarter of the year saw Portugal’s iGaming market achieve another revenue record, which breaks the previous one achieved in the first quarter.
Portugal.- The online gambling regulated market in Portugal has been experiencing great results in the last few months. First, it broke a record in January-March, and now the iGaming industry in Portugal has posted a brand new record in 2Q19.
According to figures released by the local gambling regulator Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ), Portugal broke its revenue record for the second consecutive quarter. Operators generated €48.3 million in the second quarter of the year, up from the €47.3 million generated in the first quarter.
The iGaming industry in Portugal also posted a 29.5% increase year-over-year in the second three-month period of 2019. With just the first six months of the year, the local iGaming industry has already generated more revenue than in 2018, when it reported a total of €78.9 million.
Contrary to other quarters, online casino was the leading segment in the 2Q19, registering €25.3 million in revenue. This figure is up from the €22.6 million in the first quarter and the €16.8 million posted in the same quarter last year. Handle totalled €699.8 million, and slots took the biggest share of the market (67%).
On the other hand, sports betting posted a setback in the second quarter. Revenue totalled €23 million, approximately €4.8 million less than the first quarter. However, the number is still 12.4% higher when compared to last year’s second quarter. Spend stood at €112.1 million, down from Q1’s €131.3 million but up from 2Q18’s €89.9 million.
Land-based performance
Gaming revenue for land-based operations posted flat results. The numbers rose 0.5% from €77 million in 2018 to €77.4 million in 2019. The €400k increase comes despite a fall in poker and bingo revenue.
Slots were the top segment and generated €64.5 million revenue, or a 0.7% increase from the €64 million in 2018. Table games revenue also rose 0.3% to €12 million, although poker and bingo revenue decreased 8.8% to €940k.
