Third Quarter Brings Gambling Revenue Increase for Spain

The Spanish gambling industry has recorded an increase of 23.6 percent year-on-year in gross gambling revenue during the third quarter of 2023 to a total amount of 304.3 euros.

However, that amount was slightly lower (2.7 percent) than what the industry managed to generate in the second quarter of 2023. Nevertheless, the figure recorded in the third quarter of this year represented a drastic increase from the 240.8 million euros that were recorded in the same quarter of 2022.

The casino segment was the main source of gross gambling revenue during the third quarter, with a total of 160.3 million euros generated. That figure represents an increase of 25.3 percent compared to last year and 52.7 percent of the whole gambling market in the country.

The live roulette sector managed to generate the highest amount of growth, with gross gambling revenue going up by 27.8 percent. The slots vertical also registered healthy growth, with gross gambling revenue increasing by 25.9 percent.

Blackjack also registered a good performance in the third quarter, growing by 11.5 percent compared to the previous quarter. Slots registered an 8.1 percent increase quarter-on-quarter, while live roulette grew by 5.4 percent. Conventional roulette did not manage to get a similar performance, though, its gross gaming revenue decreased by 2.2 percent compared to the second quarter of 2023.

Sports Betting Revenue on The Rise

Sports betting revenue also registered an increase of 22.7 percent year-on-year to 113.5 million euros and a share of 37.3 percent of the whole market. However, gross gaming revenue from pre-match bets fell 31.7 percent compared to the previous quarter and even in-play bets registered a 0.3 percent decrease. The product that registered enormous growth was fixed-odds betting, whose revenue went up by 46.1 percent compared to the second quarter.

The poker segment also managed to grow in the third quarter, its gross gaming revenue amounted to 26.8 million euros, an increase of 22 percent compared to the same quarter of last year and of 4.1 percent compared to the second quarter of 2023.

Bingo was the only vertical that registered a gross gambling revenue decrease, it slipped by 1 percent year-on-year to a total amount of 3.6 million euros. However, that figure still had a positive vibe as it was 2.9 percent higher than what was generated in the second quarter of 2023.

Spain had 78 licensed operators in the market during the third quarter, with 50 of them offering casino services, 42 active in sports betting, 9 in poker, three in bingo and two offering contests.

Source: “Spain gambling revenue jumps 23.6% to €304.2m in Q3“. iGaming Business. December 15, 2023.