Montenegro Sees 58.5% Surge in Gambling Revenues in Q1

In the first quarter of the year, Montenegro witnessed a significant surge in gambling revenues, with a remarkable 58.5% increase compared to the same period in 2023. The Ministry of Finance reported that the total income from various gambling sectors, including casinos, bookmakers, slot clubs, and online betting, reached €6.5 million.

This notable rise in revenue was attributed to recent legislative changes implemented earlier this year rather than an uptick in betting volume, clarified the department. The new regulations aimed to address certain types of bets deemed risky and inadequately regulated against money laundering.

Among the key changes, Montenegro introduced mandatory variable commissions for online betting and fixed fees based on the type of online games. Consequently, revenue solely from betting soared to €2.2 million in the first quarter, compared to €380 thousand in the corresponding period of 2023.

11 April 2024, 16:00

Finance Montenegro Gambling

Finance

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