Lithuania’s local gambling market suffered only a modest revenue hit this year thanks to online gambling growth, although land-based slots halls remain the local favorite despite the fact that they keep shutting their doors.
Lithuania’s Gaming Control Authority (GCA) recently released statistics showing the local gambling market generated revenue of €75.6m in the nine months ending September 30, a 6.5% year-on-year decline, which isn’t bad considering the country’s retail gambling operators were forced to shut down from mid-March to mid-May due to COVID-19 (foreshadowing alert).
That shutdown allowed Lithuania’s six (down from seven at the end of Q2) online gambling licensees to claim the majority share (50.8%) of the 9M revenue pie, as online revenue rose nearly 38% from the same period last year while retail revenue was down nearly 30%.
Online’s new market-leading status appears set to continue after Lithuania ordered a second retail shutdown to combat rising COVID-19 infection rates. Slots halls, betting shops and bingo parlors were all ordered closed from November 7 through November 29 while online gambling sites were told to carry on as usual.