Reports LITHUANIA MARKET UPDATE
Free-wheeling Lithuania
Lithuania has grown considerably in the years since independence whilst political stability and a large population all contribute to make it an interesting investment destination.
Te first licence to operate gaming was issued in
Lithuania has grown considerably in the years since independence whilst political stability and a large population all contribute to make it an interesting investment destination.
Gambling has grown significantly. After independence slots flooded into the market and were housed in shops, bars and railway stations. With no regulation in place, they were accessible to anyone and found in many locations.
Te Law on Gambling (IX-325) was introduced in May 2001 and became the first law to legalise and regulate gambling in the country, whilst the Gambling Control Authority (LPT) was also set up under the Ministry of Finance to monitor the industry.
Te first licence to operate gaming was issued in October 2001 and at the beginning of 2002 the first legal casinos were opened by Olympic Casino and Nese. In 2016, online gaming was regulated and has been booming, especially during Covid lockdowns when the land-based sector suffered. Revenue between 2016 and 2019 for the online gaming sector has nearly tripled.
P168 NEWSWIRE / INTERACTIVE / MARKET DATA
October 2001 and at the beginning of 2002 the first legal casinos were opened by Olympic Casino and Nese. In 2016, online
gaming was regulated and has been booming,
especially during Covid lockdowns when the land-based sector suffered.
Back in 2002 there were four casinos in Lithuania, six gaming halls and three betting shops. Revenues at that time were around €12.4m.
By end of 2021 there were 16 casinos licensed, 201 gaming halls and 113 betting shops. Seven companies had permits to operator online
gambling and total gambling revenues amounted to €103m (2020).
Operators include Novogaming Vilnius (Admiral); Top Sport UAB; Losimu Strategine Grupe (Betsafe); Olympic Casino; Tete-a-Tete Kazino; Nese Casino; Baltic Bet (Optibet); Unigames; VSGA; Bongo Slots; Limonas and new operator Amber Gaming (7Bet) which began its operations last year and is owned by Olifeja lottery.
Te Olympic Casino brand reigns supreme in terms of land-based gaming with more than a dozen casinos throughout the country.
2020 proved a difficult year due to Covid restrictions as land-based casinos and gaming halls were forced to close and total gambling revenues decreased by 8.1 per cent (€9.1m) compared to 2019 figures.
GGR from gaming revenues fell by 39 per cent (€28.2m) compared to 2019 revenues. Category B quarterly revenues dipped significantly in Q2 and Q4 of 2020 to around €3m compared to a
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