Spain has posted a 10.8% year-on-year (YoY) increase in gross gaming revenue (GGR) for Q2 2024, totalling €346.3m (£291m), as online casino powered the market forward.
The results, published by the Directorate General for the Regulation of Gambling (DGOJ), did however reveal that Spain’s GGR total actually declined quarter-on-quarter (QoQ) by 1.2%.
Analysing Spain’s headline figure by vertical, casino contributed the lion’s share with €171.7m of GGR, which makes up 49.6% of the overall €346.3m.
That represents a 14.6% YoY increase alongside QoQ growth of 2.3%. Within the casino vertical, slots were the strongest performer, increasing revenue by 19.5% when compared to Q2 2023.
When compared to the first three months of 2024, blackjack also saw notable growth of 12%. Spain recorded a 9.6% YoY increase in live roulette revenue.
Sports betting revenue among the country’s 42 licensed operators climbed 9.1% YoY to €145.5m, but fell by 3.2% QoQ despite Euro 2024 taking place at the tail end of the second quarter of this year.
In terms of pre-match wagering, there was a notable decline of 10.3% compared to the previous quarter, though in-play betting increased by 5.8% in the same metric. Horseracing underperformed in Q2 2024, with revenue falling by 12.3% from the first three months of the year.
Sports betting was responsible for 42% of the nation’s entire GGR total.
Poker revenue fell by less than 1% YoY to €25.6m, attributing 7.4% of Spain’s GGR, though the decline QoQ was a notably more significant total of 10.2%.
Deposits rose by 17.9% to land at €1.1bn, remaining flat when compared to Q1 of this year, while withdrawals followed a similar pattern, climbing 17.8% from Q2 2023 to sit at €747.1m.
Monthly average active user accounts rose 23.7% YoY and 5.5% QoQ to 1.4 million, while new accounts was another segment that reported growth, soaring 46.6% YoY to150,677.
Marketing expenditure increased 22.5% YoY to a total of €120.2m, which breaks down to €62.3m on promotional spend, €44m on advertising, €12.8m on affiliates and €1.2m on sponsorships. In comparison to the previous quarter, total marketing spend climbed 6.6%.
At the time of writing, the Spanish market consists of 78 licensed operators, 42 of which have sports betting licences while 50 have casino licences.
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