Portugal online poker revenue drops 33%
According to numbers revealed by the Portuguese gaming regulator, Serviço de Regulação e Inspeção de Jogos (SRIJ), revenue earned from online poker in Portugal during the first quarter of 2018 has taken a massive hit of 33%. 2018 Q1 was the first full quarter that YoY (year-over-year) revenue figures for online poker were available, as PokerStars launched online poker operations in the country in November 2016. They are, currently, the only online poker operator in Portugal.
Online poker brought the country €3 million in revenue during Q1 of 2018, which was 33% less than the €4.7 million earned in revenue in Q1 2017. While the market is still very young, this is the lowest revenue from online poker in any quarter since November 2016, and it could be an alarming concern.
Revenue from cash games fell to €2.3 million, down 30% from the €3.3 million earned during the same period in 2017. Similarly, revenue earned from online poker tournaments was only €746,000, a 41% drop from roughly €1.3 million earned during the same period in 2017.
Q2 is generally a slower period for online poker as compared to Q1, but with the recent announcement of adding Portugal to the European shared liquidity player-pool, Q2 earnings could be seriously boosted. “Portugal is likely to be added to the pooled liquidity this month… I have no doubt that will boost the revenues that we’re currently generating from Portugal,” said Stars Group CEO, Rafi Ashkenazi about this matter.
In total, online gaming in Portugal generated about €34 million over the first three months of the year, with sports betting accounting for €17.4 million and casino games accounting for €16.5 million. These numbers are all set to get a massive hike, once Portugal is added to the shared player pools.
Keep reading GutshotMagazine.com for all updates on the situation of poker in Portugal, as well as in other parts of the world.
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