Weak month for betting sees Italian igaming revenue decline in October
Italian gaming revenue declined 1.2% year-on-year in October, as a strong performance from online casino was offset by declines in sports betting’s contribution.
Online revenue for the month came to €243.9m, marginally behind October 2020 but also a dip of 11.9% compared to September 2021’s total.
The majority of this total came from online casino, which accounted for €148.8m, the strongest month since May this year. PokerStars Casino continued to lead the vertical, though its market share declined marginally from September, to 9.2%.
It was a similar story for Sisal, which retained second place in the vertical at 8.8%, but also saw its market share decline. Snai, despite growing its share of revenue to 8.0%, remained in third.
While casino revenue was up year-on-year, sports betting’s contribution across all channels dropped significantly, to €117.9m. This represented a 51.6% drop from the prior year, and a 37.1% decline from September 2021.
This could be attributed to online betting, which posted revenue of €76.1m, the second lowest total of 2021 to date. In the channel, the top four operators by market share were all businesses with a retail presence. Playtech’s Snaitech, on 15.2%, led the way, with Sisal (14.4%) and SKS365 (11.9%) following.
Retail betting also suffered a significant drop during the month, falling from September’s €67.9m – the year’s high – to €41.8m. Goldbet, which ranked third in online market share, led the way in retail with 23.1% market share. Snaitech followed on 18.8%, then Eurobet on 14.9%.
For poker, both tournaments and cash games enjoyed a strong month. Tournament rake of €8.4m marked the product’s best month since April, while cash game revenue of €5.6m was up 5.0% year-on-year. For both, PokerStars remained the market leader by far – it accounted for 46.4% of tournament rake and 43.3% of cash game revenue.
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