Republic of Cyprus-licensed bookmakers reported decent revenue gains in the first quarter of 2020, while the unauthorized PokerStars has apparently decided to get out of Dodge while the getting’s good.

Figures released last week by the National Betting Authority (NBA) show the state’s six ‘Class A’ retail bookmakers handled wagers worth €64.8m in the three months ending March 31, around one-fifth below their handle in the same quarter last year. However, the books played lucky, pushing retail betting revenue up 6% year-on-year to €15.36m.

The nine ‘Class B’ online bookies handled wagers worth €100.7m in Q1, down only 2% year-on-year, while online betting revenue spiked by nearly 56% to €9.9m.

The quarter’s combined betting handle of €165.5m pales in comparison to Q4 2019’s €215.5m, while Q1’s combined revenue of €25.3m is only slightly off Q4’s €27m. The turnover slump likely reflects the mass suspension of sports events starting in mid-March due to the COVID-19 pandemic.