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Italian Online Gambling Revenue up 21 percent
Saturday, April 30, 2016 : ITALIAN ONLINE GAMBLING CONTINUES TO SHINE IN Q1-2016
Revenue up 21 percent at Euro 267 million.
Figures from the Italian regulator AAMS show that total Italian online gambling revenue in the first quarter of 2016 reached Euro 267 million, up 21 percent year-on-year.
Most of that was generated by online casino action which contributed Euro 106 million for a 38 percent improvement on the preceding year, with Lottomatica the main supplier with 15 percent of online casino revenues in the first quarter.
The largest growth in the main verticals came from online sports betting, however which soared 42 percent to Euro 96 million. Growth was stimulated by favourable sports results for bookies and a change in the way tax is calculated, moving from turnover to GGR and giving operators more cash to plough into promotions and marketing in a competitive business.
First quarter revenues were less pleasing in online poker, where cash game revenue slipped 18 percent to just Euro 20.7 million, probably because the market remains ring-fenced. Tournament revenue by comparison performed a little better and was up 6.6 percent at Euro 22.4 million thanks to strong demand in the last month of the quarter.
Online bingo enjoyed a small revenue improvement of 2.9 percent to Euro 7.5 million; virtual sports grew 8.2 percent to Euro 2.6 million and exchange wagering surged upwards 40 percent to Euro 875,000.
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