Online gambling will take a higher share of Europe’s gambling market revenue this year but will not compensate for major land-based declines, as total market revenue plummets due to COVID-19.
Brussels, Today – Europe’s total gambling revenue will drop 23% this year – from €98.6bn gross gaming revenue (GGR[1]) in 2019 to €75.9bn in 2020 – as the gambling sector feels the impact of COVID-19, according to new data published by the European Gaming and Betting Association (EGBA) in partnership with H2 Gambling Capital.
The data, covering EU-27 and UK markets, forecasts Europe’s online gambling revenue to increase by 7% this year – from €24.5bn GGR in 2019 to €26.3bn in 2020 – despite a significant drop in online revenue during Q2 as a result of the cancellation of major European sports. However, this will not compensate for Europe’s major land-based declines, with land-based gambling revenue expected to drop by 33% this year – from €74.1bn GGR in 2019 t
December 22, 2020
The European Gaming and Betting Association (EGBA) has announced that it expects aggregated European gambling revenues for 2020 to have dropped by about 23% year-on-year to approximately €75.9 billon ($92.8 billion) largely due to the impact of the coronavirus pandemic.
The trade group used an official Monday press release to detail that an investigation it conducted in partnership with London-headquartered consultancy H2 Gambling Capital has conversely forecast that operators in the 27 nations of the European Union should see their combined 2020 iGaming revenues rise by 7% year-on-year to roughly €26.3 billion ($32.1 billion).
Solid savior:
The
EGBA also explained that most European nations ordered their land-based casino industry to close for at least some period in 2020 and that this is destined to see the vertical post a decline in amalgamated gambling revenues of at least 33% year-on-year to around
European gaming revenue falls by almost a quarter in 2020
21st December 2020
| By Richard Mulligan
Europe’s total gambling revenue is set to drop by almost a quarter this year due to the impact of the COVID-19 pandemic.
New data published by the European Gaming and Betting Association (EGBA) in partnership with H2 Gambling Capital suggests the gross gaming revenue for the UK and EU-27 countries will fall by 23% from €98.6bn in 2019 to €75.9bn this year.
The study forecasts Europe’s online gambling revenue to increase by 7% this year – from €24.5bn GGR in 2019 to €26.3bn in 2020 – despite a significant drop in online revenue during Q2 as a result of the cancellation of major European sports. However, this will not compensate for Europe’s major land-based declines, with land-based gambling revenue expected to drop by 33% this year – from €74.1bn GGR in 2019 to €49.6bn in 2020 – due to the shuttering of land-based establishments.
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Veikkaus laying off 800 staff, Finland urged to ditch gambling monopoly
Veikkaus laying off 800 staff, Finland urged to ditch gambling monopoly
By
Finland’s Veikkaus gambling monopoly will lay off up to 800 staff in January while the country is being shamed as the only remaining European Union country clinging to a state-run monopoly model.
On Thursday, Veikkaus announced that the ‘cooperation negotiations’ it launched with its retail staff earlier this month had concluded with plans to begin laying off up to 800 betting employees starting early in the new year. The layoffs are slated to last no longer 90 days, provided Finland can regain some control over its COVID-19 infection rate.