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Positive GGR in Europe Supports the Impact of Regulated Gambling
By Shane Addinall Aug 31, 2022 IndustryHistory has told the tale many times that those citizens who want to gamble, will find a way. Where gambling is regulated, there are a few advantages to consider.While most industries are still finding their feet in the post-pandemic economy, Europe’s gambling industry reports positive recoveries. Considering the latest statistics for gross gaming revenue (GGR) in countries like Portugal, the UK, and Denmark, there is a light shining through from the end of the tunnel.
A recent survey conducted in the UK shows that more than 90% of gamblers choose licensed casinos if the option exists. Licensed operators contribute to government coffers through tax, and with the industry figures proving the potential it is clear why countries like America are finally jumping on the legalised gambling wagon.
Light Breaking Through
The dark cloud of the global pandemic still hovers over certain regions as countries like China and Macau continue with stringent controls to counter the effects of COVID-19. However, European countries work on a new reality to live with coronavirus and adapt everyday life to do so. Life online and remote opportunities are at the order of the day and an uptick in gambling revenues indicates a hopeful future.
Growth in the European market for the first half of 2022 may be indicative of industry recovery as some of the regulated regions posted their statistics in August. The first six months of 2022 allow for a healthier view of the gambling industry’s performance as most nations in the EU lifted their covid restrictions by the end of 2021.
With retail venues opening their doors once more, the remote operators faced the real test and although some companies experienced dips in profits, the performance in Europe is positive. A couple of countries from Europe, the continent with the most regulated gambling regions, posted year-on-year growth for Q1 or H1.
Promising Numbers
Lithuania’s Gambling Supervisory Authority reported a 66% increase in gambling revenues and ascribed the exceptional results to the re-opening of land-based facilities. Gambling revenues in Lithuania reached €89.3 million in the first six months of this year, of which €34.7 million came from land-based operators.
Denmark and Portugal also experienced a rise in GGR with the Danish Gambling Authority publishing Q1 revenues with a 20% growth margin. The figures include revenues from the land-based, online, and gaming machine sectors which accumulated to DDK1.5 billion. Portugal reported a 17% growth in GGR for licensed operators, totalling €146.4 million.
The longest-standing regulated market in Europe also experienced industry growth, albeit marginal. Operators in the UK experienced revenue increases as reported by the country’s gambling commission this month. According to reports, the UKGC published that online gambling yields (GGY) reached £1.2 billion for Q1, which is a 1% increase compared to the GGY for Q4.
Regulation Holds the Key
With European countries proving the positive monetary impact of well-regulated gambling markets, others around the globe join in. For governments, it means fuller coffers and for consumers, a safer gambling space. Regulated gambling equates to a win-win situation.
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