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Cyprus Bookmakers Displeased With The Financial Results For Q2 2019

Cyprus

The National Betting Authority of Cyprus has released the financial results of Q2 2019. As it turned out, it was not a great time for bookmakers in the country and the gross gaming revenue dropped by 14%.

This includes both classes A retail and class B online Licenses.

The revenue for both of these increased by 4% between April and June 2019 and it counted €176m compared to €169m in 2018. It was not enough to match the same quarter of the previous since it was 12% less than that. On the other hand, online licensees reported an 18% increase compared to the same quarter in 2018. The licensees reached the sum of €107m.

The GGR for Class A bookmakers reached a total amount of €12m, which is 14% than it was in the same quarter a year ago. Also, the GGR for Class B bookmakers for the same period (April-June) in 2019 was 15% less than in the same quarter of 2018 and it recorded a total amount of €6m.

Q2 and Q1 for 2019 were pretty much the same for Class A bookmaker while the number of Class B bookmakers decreased from 10 to 9.

Source: https://europeangaming.eu/portal/latest-news/2019/11/06/58089/cyprus-bookmakers-report-14-revenue-fall-in-2019-second-quarter/

About the author

Aleksandar Krstic

Aleksandar Krstic

A bachelor of journalism, he spent most of the time of his ongoing career as a custom content creator. Experienced in reporting and information gathering, after finishing his contract in a local news agency, Aleksandar began writing for clients outside his native country. Fluent in English, he wrote various types of content, his work ranging from affiliate articles to news reports and creative stories. Aleksandar spent most of his time writing extensively on a myriad of topics, including history, science, technology, esports, culture (both traditional and modern) and arts.

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