Lithuanian iGaming Market Enjoys Stellar Growth During First 6 Months of 2021
The Lithuanian Gaming Board has released its latest gambling revenue report revealing that the country’s licensed gambling operators reported gross gaming revenue (GGR) of over €52 million for the first six months of 2021.
The iGaming industry enjoyed a particularly busy Q1 and Q2 as the market grew by 118% with online casino slots alone seeing a revenue increase of 150%. The amusement with prizes slots (AWP) market also enjoyed significant growth with revenues increasing by 79% from January to June.
The same period also saw online sports betting increase by 62% as Lithuanian gamblers wagered on major global sporting events such as Euro 2020 and the Olympics as well as the NBA Championship Playoffs.
The Lithuanian live casino industry bounced back from a poor 2020 as forced closures and lockdowns saw the industry take a big hit. The first six months of 2021 saw casinos increase their revenues by an impressive 628%.
The Gaming Board also released official financial statements for the year 2020.
The report reveals that gambling operator TOPSport was the overall market leader for the year with pre-tax earnings of €17.2 million across both its retail and online products and services. This was significantly more than its nearest competitor Tete a Tete Kazino who posted pre-tax earnings of €2.42 million. Olympic Casino Group Baltija reported pre-tax earnings of €2.16 million while Betsafe Lithuania’s earnings came in at €2.07 million.