Greece Online Gambling Revenue Falls 40% In First Five Months Of 2020

Greece online gambling revenue falls 40% in first five months of 2020. During the first five months of 2020, Greece’s online gaming revenue dropped by 40 per cent as sports stopped due to COVID-19.

Figures released by the Hellenic Gaming Commission (HGC) show that in the first five months of 2020, the local online gambling industry generated revenues of nearly € 150 m, a 40 percent decline from the same period last year.

The year started well in January with sales of €49.3 m but in February this fell to €45 m. The revenue fell further to €36.1 m in March and then reached the bottom with €29.5 m in April, before marginally rebounding to €30 m in May.

The Stoiximan betting brand was the industry leader with an overall pie share of almost 49 per cent. Stoiximan began the year off in January with sales of €24.3 m but this fell to €14.8 m by May.

Greek lottery and betting provider OPAP, which is in the process of purchasing a majority stake in Stoiximan, saw their online sales almost completely eliminated in the first five months of 2020.

[image: Alex Blajan]

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