Cyprus Gaming Posts 44 Percent Drop

Sat, Sep 26, 2020

The National Betting Authority of Cyprus has reported that bookmakers generated income of €88.4 million (US$104.2 million) for the second quarter of 2020, for a decline in gross revenues of 44 percent.

Cyprus Gaming Posts 44 Percent Drop

The National Betting Authority of Cyprus has reported that Class A and B bookmakers generated revenues of €88.4 million (US$104.2 million) for the second quarter.

Gross gaming revenue (GGR) was €10.6 million, a 44 percent drop compared to €18.8m for the same period in 2019. GGR for Class A bookmakers dropped by 68 percent to €3.9 million, per CDC Gaming Reports. GGR for Class B bookmakers for the period was €6.6 million, a 5 percent increase compared to the same period in 2019. Cyprus has six Class A and nine Class B licensed bookmakers.

A 50 percent decrease in total income was recorded, compared to €176.4 million reported for the same quarter in 2019.

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