Lithuania GGR down 15.9% in H1 as online overtakes retail

Lithuanian gambling revenue in the first half of 2020 fell by 15.9% to €43.8m (£4.0m/$5.2m) as the novel coronavirus (Covid-19) pandemic led to online revenue overtaking that of the land-based sector.

The €43.8m in revenue came on €540.0m worth of stakes, up 6.8%. However, greater dependence on online slots – which have a lower margin than their land-based equivalent – meant overall revenue declined.

With gaming venues closed for a large portion of the period, online revenue overtook land-based for the first time, bringing in €23.4m, up 33.9%. This came on stakes of €407.1m, up 49.9%.

The largest source of online revenue were from slots, where revenue is split between Category A machines, with unlimited winnings, and Category B machines, with a maximum stake of €0.5, a max win per game set at 200 times the stake a duration of at least three seconds.

Category A slots brought in the majority of overall online gambling revenue, at €12.0m, up 86.8% on stakes of €208.9m, up 182.9%. Category B slot revenue grew by 38.9% to €570,000 on stakes of €4.9m, up 46.0%.

Remote table games saw the most rapid growth, by 87.2% to €359,000, yet this was a result not only of higher stakes but also higher margins, as stakes grew by only 27.4% to €493,000. Meanwhile, online sports betting was stable despite the almost complete stoppage of global sports, dropping by just 0.1% to €10.4m, as stakes dipped by 0.6% to €192.9m.

Turning to the land-based sector, where casinos, slot parlours and betting shops were closed from 16 March to 17 May and operating with limited hours after this, revenue dropped by 41.0% to €20.4m as stakes fell by 43.2% to €132.9m.

Category B slots were the largest source of revenue at €9.2m, down 40.3%, as stakes fell by 39.9% to €58.0m. Category A slot revenue fell by 34.6% to €3.8m as stakes declined by 31.8% to €17.2m.

Table game revenue was down 43.5% to €4.8m as stakes were down 44.1% to €22.3m, while online betting revenue declined by 46.2% to €2.5m on €35.3m worth of stakes, down 51.1%.