In the first nine months of 2026, Montenegro’s gaming sector generated €38.77 million, reflecting a year-on-year increase of 24.36%. This growth is primarily driven by a significant rise in online gambling and gaming-machine revenue.
For September alone, the sector recorded revenues of approximately €5.46 million, according to data from the Gaming Administration.
Online gambling emerged as the leading contributor, bringing in €15.8 million, which marks an increase of 38.62% compared to the previous year. Revenue from gaming machines also saw substantial growth, reaching €9.16 million, a surge of 51.82%. Additionally, sports betting contributed €8.37 million, up by 8.73%, while casinos accounted for around €4.89 million.
The expansion in revenue can be attributed to enhanced digital engagement, improved regulatory frameworks, and better revenue collection mechanisms following recent reforms in Montenegro’s gaming legislation.
The rise of online gambling is particularly noteworthy, as digital systems facilitate closer monitoring of transactions and tax obligations compared to traditional cash operations, presenting a growing fiscal opportunity for the government.
If current trends continue, gaming revenue could become a more significant source of non-tax and concession income, although it remains smaller relative to VAT, income tax, and customs revenues.
The notable increase in gaming-machine revenue suggests not only heightened consumer spending but also stronger regulatory enforcement and formalization within the sector.
For operators, increased digital oversight will likely lead to more stringent compliance requirements and diminish the competitive edge for businesses that operate outside formal reporting channels.
This environment may prompt further consolidation within the industry, favoring companies that can adhere to higher technological standards and licensing regulations.
The most pronounced trend is the shift towards online gaming, with a 38.6% increase in digital collections indicating a transition to platforms where payments and customer activities can be systematically monitored.
This shift is expected to enhance predictability in gaming revenue for public finances while indicating that future growth will increasingly rely on regulated digital platforms rather than solely on traditional betting venues and casinos.
