Spanish online gaming revenue up 14% Y-o-Y in third quarter
Spanish online gross gaming revenue (GGR) reached €348.1 million ($366.5 million) in the third quarter, reflecting an increase of 14.4% from the same period last year, according to the country’s gaming regulator.
The Directorate General for Gambling Regulation (DGOJ) released a report indicating that GGR also saw a quarter-on-quarter increase of 0.5%. This growth can be attributed to a decision made by the Supreme Court in April to lift several marketing restrictions, including bans on celebrity advertising and welcome bonuses.
During the third quarter, deposits and withdrawals grew significantly by 23.9% and 30.3%, respectively, compared to Q3 2023. Additionally, marketing expenditure increased by 9.7% from the previous quarter, reaching €131.7 million, benefiting from the recent relaxation of advertising restrictions.
As per the latest data from the regulator, there are currently 77 licensed online operators in Spain. Among these, 51 sites offer casino games, 24 focus on sports betting, nine provide poker, along with four for bingo and two offering contests. The total number of accounts rose by 1.7% from Q2 2024.
Casino Revenue Growth
Casino GGR constituted €188 million, representing 54% of the total online GGR. This figure marked a year-on-year increase of 17.3% and a 9.5% increase compared to Q2, driven primarily by substantial growth in blackjack revenue, which surged by 49.4%, alongside a 25.8% rise in slots GGR.
Sports Betting Performance
In the realm of sports betting, GGR experienced a decline of 6.6% compared to Q2, settling at €135.9 million. This decrease occurred despite Spain’s victory in the Euro 2024 tournament, held from June 14 to July 14. Nevertheless, while the quarterly numbers fell, sports betting revenue rose by 19.8% year-on-year, accounting for a significant 39.1% of total online revenue.
Challenges in Poker
Unfortunately, the quarter was less favorable for poker, which is experiencing a decline in popularity among Spanish players. The GGR in this segment was recorded at €20.5 million, representing a 19.7% decrease compared to Q2 and a 23.5% drop year-on-year.
Bingo Stability
Bingo, on the other hand, maintained a steady performance with GGR of €3.7 million, remaining stable compared to previous quarters. This segment saw a minor increase of 0.7% over Q2 and a 1.7% growth compared to Q3 2023.
The improved gambling environment following the Supreme Court’s April ruling on advertising restrictions has been recognized by operators, including Codere Online. In their Q3 results report, the operator’s CEO mentioned that the company has been successfully attracting higher-value players in the market, with notable improvements in retention and loyalty rates attributed to the reintroduction of welcome bonuses.
