Sluggish Spanish Economy Puts Damper on Online Gaming Growth

With unemployment at a staggering 27 percent and operating in deep recession mode for several years now, it is no small wonder that the market for online gaming services in Spain has leveled off.  Anyone who can read a newspaper will have noticed that this is a country whose economy is in bad shape.

Despite the obviousness of its condition, the Spanish government has said that the worst of the downturn has passed and that it expects quarterly growth before the end of the 2013 calendar year.  This optimism is apparently based upon their belief that the country has become more competitive and that its exports are growing.

The Spanish online gambling authority has not yet allowed online slots to be offered in the market, but the belief is that when they do there is the possibility of a dramatic statistical upsurge in the future.

The gambling regulator's report said that gross gaming revenues in the Spanish market reached 60.4 million euro in the first quarter of 2013, around 1 million euro less than in the fourth quarter of 2012. Additionally, wagering was up less than 1 percent reaching a peak of 1.37 billion euro.

Interestingly enough, betting on sports via the internet pulled in 50% of the markets' gross gaming revenues. This also represents a minor increase over the preceding quarter. Other gambling venues such as bingo declined further and cash poker stayed at the same level, although tournament GGR increased.

It has been suggested that the Spanish gambling authority has been discussing the possibilities of a compact with France & Italy to increase player liquidity.