The Italian legal gambling operators' revenue first reached a quarter-billion level, making November the best in financial regard. Login Casino always follows the most interesting financial news in the gambling sector and highlights the major trends in Italy.
November became the record-breaking month for the Italian igaming market quite unexpectedly. While the second wave of the lockdown caused by coronavirus spreading led to the closing of land-based gambling venues across Europe, Italians seem to turn their attention to gambling at the end of the year.
Thus, the official gambling industry's overall revenue overcame a quarter-billion level, reaching almost €259 million in November. In November, the two leaders were casino (including slots) and online sports betting, both generating more than 100 million euros. Poker tournaments, poker cash, Bingo, and retails sports betting were far from those results, giving in total less than €30 million.
What are the financial results by sectors?
The leading position belongs to casinos and slots, which brought almost 48% of the total revenue or €123.6M. That is a record result for the sector, which has overcome the 100 million level for the third time only.
The sports betting industry, divided into online and land-based segments, fell a drastic downfall in November, especially compared to October €243M. However, it is most actual for the offline market, which brought negative numbers (- €3.5M) in November while reaching €117M in the month before. The online sector is relatively stable, and decreased by only 14 million euro, from €125M in October to €111M in November.
The other three sectors were relatively low on the background of the two leaders. Thus, Poker tournaments brought €11.2 million, while poker cash only 7.2 million in the same currency. Bingo games replenished the treasury with only 5.8 million euros.