MEF of Italy: Gambling Revenue Declines as a Result of COVID-19

Italian Ministry of Economy and Finance (MEF) has reported on the gambling revenue, collected by the Treasury from January to July 2021. The authority has published the data in the recent financial news.

In 2021, many sectors of the Italian economy were hit hard by the COVID-19 pandemic. And, as seen from the MEF’s report, the gambling niche wasn’t an exception. Throughout the first seven months of 2021, the Treasury has gathered €1.5 billion in the net casino, lottery, and slots revenue. This is almost €900 million less than the revenue collected in the same period of 2020. Last year, €2.4m of gambling incomes were sent to the state budget.

Lottery revenue is up while the income from slots drops

In 2021, lottery sales comprised most of the gambling profits in the country. The revenue from lottery games was €694 million, compared to €507.2 million of gatherings in the corresponding period in 2020. This is an over 36% year-on-year increase.

On the other hand, profits from slot machines, including billionaire slots games, has drastically fallen this year. While from January to July 2020, slot revenue was almost €1.58 billion, in 2021 it has dropped to just €395 million.

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