Lithuania’s gambling industry has witnessed a remarkable surge in revenue, reaching €161.0m in the first nine months of the year, marking a significant 15.2% year-on-year increase.
This impressive growth has been largely fueled by the booming remote gambling sector, which outpaced land-based gambling in revenue generation. The Gaming Control Authority of Lithuania, responsible for regulating the gambling market, reported a comprehensive growth across both online and traditional gambling platforms.
The standout performer in this growth trajectory is the online gambling sector, where remote gambling led the charge with a GGR of €107.0m, a substantial 24.4% increase from the previous year. Online slot machines, in particular, generated a significant portion of this revenue, amounting to €72.1m, showcasing the popularity and profitability of this gaming category.
As the Lithuanian gambling market continues to evolve and expand, particularly in the online domain, this upward trend presents opportunities for stakeholders and investors to capitalize on the burgeoning sector, offering diverse gaming experiences to a growing audience.
Detailed Revenue Analysis:
Online Gambling Dominates: Online gambling’s impressive performance is highlighted by a 24.4% increase in GGR, reaching €107.0m. Within this, online slot machines were particularly lucrative, with Category A slots generating €69.5m and Category B slots contributing €2.6m.
Mixed Results in Land-based Gambling: While the land-based gambling sector saw a modest growth of 0.4% to €54.0m, Category B slot machines experienced a 3.0% decline in revenue. In contrast, Category A slots witnessed a 13.0% revenue increase, reaching €11.3m.
Sports Betting and Table Games: The online sports betting sector saw a slight dip of 1.1%, totaling €26.1m, whereas online table games enjoyed a significant 63.0% jump in revenue, reaching €8.8m. In the land-based market, retail sports betting and table games revenues saw declines of 10.5% and 3.2%, respectively.
Lottery Market Performance: The lottery sector also demonstrated robust growth, with total revenue increasing by 15.5% to €46.3m, despite a drop in ticket sales and player winnings. This sector’s growth underscores the enduring popularity of lottery games among Lithuanian players.
Conclusion:
The first nine months of the year have been a period of significant growth and transformation for Lithuania’s gambling industry, particularly in the online sector. With a record revenue of €161m driven by online slots and other gaming offerings, the Lithuanian gambling market is proving to be dynamic and resilient. As the industry continues to adapt and innovate, there are ample opportunities for continued growth and diversification in both the online and land-based sectors, reinforcing Lithuania’s position as a key player in the European gambling landscape.
