888 Acquiring Non-US William Hill for $3 Billion [...]
Online Casino Grows in Italy, While Sports Betting is Still Recovering
- June 25, 2020 By Riley Wilson -
Italy has recently revealed the latest online gambling figures, and while the sports betting vertical is still recovering from the suspension of sporting events, online casino recorded a rise in revenue during May.
According to available information, total revenue amounted to €169.6 million, which represents an improvement of 20.7% when compared to the same month of 2019.
Online Casino Leads the Way
Online casino was the main driving factor behind the growth, as it generated €105.5 million in revenue. That’s a year-on-year rise of 50.9% and a new monthly record. The previous one was set in April when the segment earned €98.3 million.
PokerStars continues to lead the country’s online casino market, despite the fact its share dropped from 14.2% to 13.9%. Sisal and Lottomatica are far behind, accounting for 8.6% and 7.4% of all revenue respectively.
888 Holdings went down from second place to fifth, with a share of 6.8%. Snai also saw its revenue decrease, ending the month on 7.0%
Poker tournaments generated €14.4 million in revenue, which is a staggering year-on-year improvement of 128.9%. However, when compared to April, it’s a decline of 30.1%. At the same time, revenue from cash games dropped, though €8.8 million this vertical generated represents an annual rise of 74.8%. PokerStars is the undisputed market leader, outperforming all of its competitors for each product offered.
Sports Betting Improves
Sports betting vertical is finally beginning to recover after a dismal April and a low of €20.9 million in revenue. That’s the worst result the segment recorded since February 2017.
In May, sports betting generated €35.4 million in revenue, improving by nearly 70% when compared to April, but down by 37.1% from May last year. As country’s betting shops remain closed, the retail posted a €13,693 loss during this period. Betting shops in Italy are scheduled to reopen on July 15.
Bet365 leads the sports betting market with a 17.6% share of the total revenue. Snaitech is the second-placed operator on 13.9%, while Sisal is close behind on 12.1%. SK365 is the only remaining company with a double-digit share (10.9%).