Slots Spur Recovery in SpainPublished December 14, 2015 by Lee R
The Spanish gaming authority attributes the success to online slot performance.
Online slots has spurred growth in Spain.
First Encouraging Signs
According to the Spanish gaming authority Dirección General de Ordenación del Juego (DGOJ), the introduction of online slots has contributed to encouraging figures for the market this week.
Any growth in the Spanish economy is an accomplishment right now, and the gambling sector's new found success has to be taken as a positive indicator on the general state of the recovering Spanish economy.
The year-on-year figures for total gross gaming revenues reached Euro 84.2 million, for an increase of 36%.
The 20 new online slot licenses ordered this year vaulted casino revenues a whopping 114% to Euro 18.1 million. The take from casinos represented 21.5% of total online revenue and 32.6% of total online gambling turnover in the third quarter.
As for the online sports betting sector revenues, the growth rate was 46% year-on-year to Euro 49.4 million, bringing in 58.7% of total online revenue.
The drops were in online poker and bingo: online poker fell 16% to Euro 14.4 million, while Bingo dropped 12 percent to Euro 1.8 million, for revenue percentage takes respectively of 17.1% for poker and 2.1% for bingo.
The marketing investment for online gambling in Spain also increased substantially, jumping 42% to Euro 18 million. Operators also reached out to players by increasing promotional bonus offers almost 200%.
In a country where online casinos such as Casino Estrella, Play2Win Casino and Betway Casino are already popular, Spain’s land-based gambling market recorded increased player spending to achieve the first positive annual growth since the economic crisis of 2008.
The jumps in individual sector performance and increased investment in marketing are positive forces for stimulating a general foundation for economic growth in potentially all Spanish sectors. Increased investment from players and online operators means more taxable revenues which can lead to reinvestment of funds in other areas of Spain's sagging economy.