Italy is one of the most visited countries in the world and in Europe which is why it is no wonder that many investors decide to set up all sorts of casinos in the large cities like Rome or Milan. A recent report issued by the Online Gaming Observatory shows online gambling has caught the attention of gamblers at a larger scale in 2016. These have increased their spending on casino games and sport betting by 25% last year. If you want to open a casino in this country, our company incorporation consultants in Italy can assist you.
Foreign investors looking to open companies in Italy in industries which render good yields should a take a serious look at the gambling sector with a focus on online gaming as locals and tourists were quite interested in this type of activity last year. 2016 was the first year in which the gambling industry outranked the entertainment sector transforming Italy into the second largest online gambling market in the European Union. The UK came first.
Casinos games and sports bets owners registered an increase of 25% in their incomes which surpassed the 1 billion euros threshold last year.
The Italian casino games sector reached 439 million euros and a 43% of the total market share, while sports bets reached 350 million euros rising by 31%. The rest of the market share which accounts for 100 million euros is dedicated to the remaining forms of online gaming, such as bingo and horse racing. These too rose by 20% in the past year.
With an increase of the gaming industry also came a few changes in the legislation, the first of them being related to an enhanced privacy law. This change comes as a consequence of the fact that during the course of the year, 120 new gaming licenses are expected to be issued. These are estimated to bring 24 million euros to the economy.
This year Italy also plans to develop a new category of online gaming which is dedicated to professional video players which is expected to attract a large number of young individuals known best as e-sport champions.
For information on the legislation related to becoming an online gaming operator, please contact our company registration agents in Italy.