Online Gaming Revenues Increase by 19 Percent in Spain
Online gaming revenues in Spain are on the rise, according to a report released by the Spanish regulator Dirección General de Ordenación del Juego (DGOJ).
As reported by eGaming Review, the DGOJ recently reported €62 million ($77.5 million) in total online gross gaming revenues in Spain for the three months ending Sept. 30, representing a 19-percent year-on-year increase. The third-quarter revenue figure also increased seven percent from the €58.1 million ($72.6 million) reported in the second quarter of this year, although the figures are short of the €68.1 million ($85.1 million) reported in the first quarter.
Sportsbook revenues, which account for 54 percent of the total gross gaming revenues, were the major driver of the increase despite the popular FIFA World Cup taking place over the summer months in the second quarter.
The €33.7 million ($42.1 million) in online sportsbook gross revenues represent a six-percent increase when compared to the €31.8 million ($39.7 million) recorded in the second quarter. That is a 35-percent year-on-year increase when compared to third-quarter results from 2013.
Poker revenues also increased 12 percent from the second quarter, and nine percent year-on-year to €17.2 million ($21.5 million) in gross gaming revenue in the third quarter of 2014. Online gaming powerhouses PokerStars and 888poker continue to dominate the Spanish poker marketplace, accounting for 90 percent of the total reported revenue figures.
According to Pokerfuse, the increase in total online poker revenues occurred despite a decrease in cash-game revenues from €10.1 million ($12.6 million) to €9.3 million ($11.6 million).
While cash games still account for 54 percent of the total online poker gross revenues, there has been a shift to tournaments, assumed to be jumpstarted by the introduction of the lottery-style Spin & Go tournaments on PokerStars. Even though Spin & Go tournaments are popular among recreational players looking to hit a big score in the matter of a few minutes, more serious players are disturbed by this trend, believing it is cutting into their bottom line. Spanish poker players lodged a protest on July 18, shortly after these games were introduced earlier in the month.
Online casino revenues continue to struggle, reporting a seven-percent decrease down to €8.5 million in reported third-quarter revenue. This figure still represents a five-percent increase when compared to third-quarter gaming revenue of 2013.
Spain is hoping that casino revenue will begin a positive trend starting in the first quarter of 2015 when the country plans to introduce online slot machines for the first time.
Gaming consultant Eduardo Morales Hermo believes an increase in online casino gaming revenues can be significant. "It is expected that with the introduction of the slots, this segment will improve its overall share of the market, with estimates in the area of 60-70 percent in the overall figures for casino games," he said.
Stay tuned at PokerNews as more develops in the Spanish gaming marketplace.
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