The Gambling Sector In Italy Suffers €900m Gambling Revenue Losses Due To The Covid-19 Pandemic

Last updated on April 11th, 2023

The Ministry of Economy and Finance (MEF) of Italy released a report revealing a staggering €900m gambling revenue losses due to the Covid-19 pandemic. The data gathered by the Treasury was for the period between January and July 2021. And judging by the report of the MEF, the gambling situation in Italy is rather grim.

According to the report by the Ministry of Economy and Finance, gambling suffered €900m in losses in just 7 months. More specifically, the 2021 gambling revenue from online casinos, slots and lottery amounts to €1.5b. Which considering that last year €2.4m from the revenue went towards the state’s budget makes the situation even more serious.

One of the biggest ‘losers’ in gambling revenue in Italy is definitely slot machines. As a matter of fact, slot games notice a drop from €1.58 in 2020, to a worrying €395 in 2021. That is for the same period of 7 months between January and July. This is a very clear picture of the obvious difficulties that almost every sector in Italy is facing as a result of the Covid-19 pandemic. Consequently showing that gambling is definitely not an exception.

However, there is still hope for the Italian gambling scene. There is one gaming department that is reporting ever stronger numbers in regard to 2020. That is a lottery. As a matter of fact, the lottery reports €694 in revenue for 2021. That is a whopping % 36-year-on-year increase in comparison to €507.2 in 2020.

While the positive numbers from the lottery do ease the dire situation, it is still early for Italians to cheer. Especially if you consider that the pandemic is still ongoing at the moment. And that pretty much every department in Italy suffers greatly as a result of Covid-19. Italy suffering €900m in gambling revenue losses is just a reminder that even the most stable industries are affected by the virus.