Podgorica, (MINA-BUSINESS) – According to the Games of Chance Administration, revenues from games of chance and prize competitions reached €27.24 million in the first ten months, up 60.49 percent year on year.

In the same period, there was a 103.25 percent increase in casino revenues, which reached €4.26 million.

“Additionally, revenue from sports betting amounted to €7.92 million, marking a 5.53 percent increase in this segment,” the Administration stated in a press release.

The Games of Chance Administration argues that this result clearly indicates a continued upward trend in revenue collection in this sector, confirming that the institution is making a significant contribution to strengthening the national economy.

The Administration stated that, with amendments to the Games of Chance Law that had come into effect on 1 January this year, the taxation of the variable part of the concession fee for providing online and other telecommunication gambling services had been introduced, generating a total of 8.63 million in revenues until the end of September.

On 1 November of this year, the Games of Chance Administration established a unified information system, which is expected to improve the oversight process, contributing to better record-keeping for gambling operations, leading to more efficient collection and increased revenues from games of chance.