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.