Cyprus total GGR increases 6% in 2023
Q4 saw a lot of positives across the industry.
The National Betting Authority of Cyprus has announced financial figures for the fourth quarter and full year of 2023, for both its land-based and online offerings.
Within the report, the two are distinguished by Class A, referring to land-based betting, and Class B, referring to online betting.
Looking at the fourth quarter for both Class A and Class B together, comprehensive income, profit distribution and gross gaming revenue (GGR) all saw increases.
Online GGR reached just over €19m ($20.2m) for the quarter, while land-based reached a total of €14.8m. In total across both sectors in the quarter, GGR reached €30.9m, a 9% increase year-on-year.
Total comprehensive income for Q4 2023 reached €325.6m, an increase of 10%; €235.1m of this came from Class B betting, while €90.5m was from Class A betting.
Looking at the full year, total GGR was set at €123.4m, a 6% growth rate compared with 2022. Class A GGR saw a marginal drop of 0.2% to €54.5m, while Class B rose 12% €68.9m.
Looking at comprehensive income for the full year, the total figure surpassed the one billion mark to €1.1bn. Again, the online sector took the majority of this at €799.1m, up 17%, while land-based offerings grew 12% year-on-year to €310.1m
In other financial news today, Spillemyndigheden, the Danish Gambling Authority, has released its yearly Gambling Market in Numbers data report, showing a 1.7% year-on-year decrease in total GGR for the Danish gambling market
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