Belgium’s Gross Gaming Revenue to Grow in 2023 Despite Tighter Regulation

This growth comes amid the introduction of new strict measures by the Belgian government. From 2022, operators were required to implement a loss cap of €200 per week, down from the previous €500. A complete ban on gambling advertising came into force in mid-2023, despite efforts by sports teams and operators in Belgium to overturn the decision.

Casinos in Belgium saw a significant increase in revenue in 2023, with GGR rising by 18.7% to €594.9 million. The main contributor was online casinos, where revenue increased by 20.2% to €455 million. Land-based casinos also saw growth of 14.3%, with revenue of €139.9 million.

Of the nine land-based casinos in Belgium, only Casino Blankenberge, owned by the Kindred Group, recorded a decrease in GGR compared to the previous year. The top performer in terms of revenue was Grand Casino Brussels, owned by Casinos Austria International, with offline revenue of €52.5 million, significantly higher than Circus Casino Resort Namur, which came in second with €22.5 million.

Online, only three casinos reported a decline in revenue, one of which was Middelkerke Casino, which did not have an active online gaming license in 2023. However, in February 2024, Betsson-owned Betfirst announced the launch of an online casino based on Middelkerke Casino.

Gaming halls also showed good growth, increasing GGR by 17.3% to €437 million. The online segment accounted for 57.7% of total gaming hall revenue, growing by 19.4% to €252 million. Offline revenue from automated gaming halls also grew by 14.5% to €184.9 million.

The sports betting sector in Belgium showed a more moderate pace of growth in 2023, increasing GGR by 8.4% to €390 million. The online segment continues to dominate, accounting for 60.9% of total betting revenue, growing by 12.8% to €237.6 million. Land-based betting revenue increased by 2.3% to €152.4 million.

Despite This, the authorities noted, was that 10 of the 24 licensed operators in Belgium controlled 96% of offline bets and 94% of online bets. Of the 30 possible licenses, only 24 were used in 2023.

Football remains the most popular discipline for betting, accounting for 77.1% of the total GGR in this sector.

The new restrictions on betting at newsstands introduced in 2022 had a significant impact on this segment. Kiosks could only accept bets between 6am and 8pm, and the total volume of bets accepted was limited to €250,000 per year.

The CJH Gaming Commission noted a 26.3% drop in GGR at kiosks due to these changes. This resulted in 21 kiosks not having their licences renewed, 82 licence holders not requesting renewals and 151 kiosks ceasing operations. As a result, only 1,484 kiosks remained active in the country by the end of 2023, down from 1,580 in 2022.