The Cypriot gaming industry is flourishing! Total gaming income surged by 6% in 2023, and this upward trend persisted into the final quarter with encouraging indicators across all sectors.
Both physical and internet-based gaming witnessed substantial expansion. Online gaming alone generated a considerable €19 million in the fourth quarter, while brick-and-mortar casinos trailed closely at €14.8 million. This brought the quarter’s total to an impressive €30.9 million, a 9% leap compared to the preceding year.
Examining the entire year, total gaming revenue reached €1.234 billion, a 6% rise from the previous year. Although land-based gaming saw a minor decline, internet gaming soared with a 12% increase, hitting a staggering €689 million.
In summary, 2023 was a remarkable year for the Cyprus gaming sector, with total revenue surpassing €1 billion, a testament to its burgeoning popularity. Digital gaming spearheaded this growth, exceeding €7.9 billion in revenue and showcasing a notable shift in player inclination towards online platforms.
In other gaming news, the Danish Gaming Authority, Spillemyndigheden, published its yearly market data report…
The Danish gaming sector experienced a seven percent decrease in overall earnings relative to the corresponding timeframe in the previous year.
