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Spanish Online Gambling Revenues Lower
Thursday November 28 ,2013 : THIRD QUARTER DECLINE FOR SPANISH ONLINE GAMBLING OPERATORS
Official numbers show a continued slide in revenues.
Spanish regulator Direccion General de Ordenacion del Juego had more bad news for Spanish online gambling licensees this week, reporting third quarter 2013 financials that show no relief from the downward trend experienced in previous quarters
GGR was down at Euro 51.6 million for the quarter ended September 30 2013, sliding south from Q2's disappointing Euro 55.4 million and Q1's Euro 61 million.
Overall turnover was Euro 1.3 billion, and player numbers were up almost three-and-a-half percent, but the country's punitive 25 percent of GGR tax rate hammered operators hard.
Operators complained that the regulator has been dilatory in authorising online slots action and in trying to improve liquidity in the online poker sector through international player pool sharing agreements.
Sports betting was the most popular form of online gambling for Spaniards, claiming 47 percent of the national online gambling GGR, with online poker some way behind at 30 percent after reporting declines in both cash game and tournament activity.
Online casino action contributed 16 percent, with online bingo trailing at 4 percent.
Operators have fingers crossed that the regulator's approval of online slots and betting exchange action - hopefully next year - will relieve the downward pressure on the industry.
Spain’s bricks and mortar casinos have experienced problems, too, with a Codere study reporting that turnover has fallen from Euro 2.55 billion in 2007 to Euro 1.49 billion in 2012.
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