Portuguese total online gambling revenue down 18% in Q2
According to the regulatory body Serviço de Regulação e Inspeção de Jogos (SRIJ), Portugal total online gambling revenue dropped by 18% in Q2 ahead of the first European shared liquidity agreement.
Gross revenue totalled €25.4m from April to June, down from €31.4m the previous quarter. The online casino segment also shrunk last quarter to €11.4m from the €13.9m reported in Q1.
Breaking down the figures, slot play accounted for 38% of revenue, followed by poker at 32%, then roulette at 20% and finally blackjack generating 9%. Sports betting has also suffered a 20% drop, compared to Q1 2017, generating a total of €13.9m.
Last November, Portugal approved its first official poker license with PokerStars, which has remained as the only operator ever since. Portugal enthusiastically welcomed online poker, having a a weekly average of 2,000 game players during the early days.
Since then, Portugal online poker rooms have been suffering a considerable decline. Cash game poker accounted for €2.7m in revenue for Q2, down from the €3.3m collected during the previous quarter; while tournament poker totaled €991,800 compared to the €1.3m generated in Q1.
Although online cash games have generally experienced losses during the last few years, Portugal, France, Italy and Spain have regulated online poker markets. This regulatory regime prevents local gamblers joining international pools.
This restriction could drastically change in late 2017 or early 2018, when it is expected that the four markets merge to create a communal liquidity agreement. French regulator ARJEL and Spanish DGOJ have already started the application process for those operators interested in joining the project. Even though it is still too early to draw conclusive opinions, hope remains that cash games would rise after the agreement.
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