Lithuania Reaches Record Gambling Revenue in 2023
LISTEN TO THIS ARTICLE:The Lithuanian online gambling market continues to show an upward trend based on the new annual figures released by the Lithuania Gambling Supervisory Authority.
In 2023, the country’s total gambling revenue rose by 13.5% year-on-year to €222.2m. The figure was £26.4m more than the €195.8m recorded in 2022. The surge in revenue was fueled by online gambling, which accounted for €148.4m of the total revenue. This marked a 22% increase year-on-year. Online slots contributed €100.5m, a growth of 28.5% YoY. Of this total, Category A slots brought in the most revenue at €97.1m, while Category B slots generated €3.4m.
Online tables generated €12.6m, 46.5% higher than last year’s figures. Online sports betting revenue also experienced an increase of 1.2% to €35.3m.
Land-Based Gambling Decline
While online gambling showed an improvement, land-based casinos experienced a slight decline in Lithuania. The revenue for this division decreased by 0.9% year-on-year to €73.8m. Slot revenue also dropped by 0.9% to €46.3m. This was primarily influenced by a decrease in Category B games.
However, Category A slots saw a 4.9% increase in revenue compared to 2022. Table games revenue showed a positive trend, rising by 5.2% year-on-year to €18.3m. Retail sports betting revenue dropped by 8.1% to €9.1m.
Regarding lottery, the revenue generated in the sector is stand-alone and not included in the overall total gaming revenue. In 2023, the lottery took in €66.3m in revenue, up 17.6% year-on-year, despite a 7.4% decrease in ticket sales to 100.5 million. This growth is partly attributed to a 5% reduction in player winnings, totaling €74.9 million.
The country received €67m in taxes from the gambling sector in 2023. It also collected €23.3m from major lotteries and €43.7m from other approved gambling activities.
New Lithuania Gambling Permit Fees
Last August, the Lithuanian Ministry of Finance endorsed a resolution implementing changes to state fees, payments, and refunds across multiple sectors. The gambling sector was also affected by the introduction of new license fees for casinos, slot venues, bingo halls, and sports betting establishments.
The permit fee for new land-based casinos was set at €1,504, while the permit renewal costs €186. For new totalizer shops, the permit fee is €717, and this fee remains unchanged for extensions. Changes or modifications to a casino, slots, or bingo license will incur a fee of €369. Remote gambling permits also increased to €784.
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