In accordance to the most up-to-date financial news, the gambling industry in Cyprus continues to crank out profits despite the adverse implications of the pandemic.
The current figures showed that the marketplace could deliver 3.4% of the gross domestic products benefit in 2019. This inclination was saved in 2020 as the gaming sector remained at a few % of GDP, notwithstanding the economic challenges brought on by COVID-19. This was a triple increment in comparison to 2016’s a single p.c. Such a contribution to GDP is the consequence of strong GGR.
Ioanna Fiakkou, the head of the Nationwide Betting Authority, has presented the information and commented on them, saying that protected gambling remains the priority for the physique and the industry taken as whole. Operators ought to concentrate on their responsibilities to be certain a safer gambling experience. The chairwoman has emphasised that the pandemic has had a appreciable influence on the revenue created by the marketplace, but the monetary final results also establish the efficiency of existing regulations. She has verified that the Authority is producing a self-exclusion method that will be adopted by firms, which comply with all the needs.
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