CGIA and AS.TRO report €22bn player spending in Italy in 2025
A CGIA Mestre and AS.TRO study reported that Italian gambling generated about €22bn in player spending in 2025 after winnings, with operators recording about €10bn in turnover and the state receiving €11.5bn. Online gambling exceeded €100bn in wagers, while physical gambling generated about €64bn, with AWP and VLT accounting for nearly €32bn.
Investors should distinguish Italy’s online wagers exceeding €100bn from €64bn physical gambling and nearly €32bn through AWP and VLT.