Spain’s gambling market reports consistent growth in Q3 financial results

Spain’s Gambling Market Reports Strong Q3 Growth Across Key Metrics

Spain’s gambling regulator, the Directorate-General for the Regulation of Gambling (DGOJ), has published its Q3 2024 financial performance report, highlighting steady growth in gross gaming revenue (GGR) and related metrics.

Key Financial Highlights

• GGR: Reached €348.1 million, marking a 0.49% quarter-over-quarter (QoQ) increase and a significant 14.4% year-over-year (YoY) rise.
• Player Activity:
  • Deposits increased by 4.6% QoQ and 23.9% YoY.
  • Withdrawals grew 7.4% QoQ and 30.3% YoY.
• Marketing Expenditure: Totaled €131.7 million, a 9.7% QoQ increase and a 40.9% YoY surge, with spending allocated to:
  • Affiliations: €13.2 million
  • Sponsorships: €1.3 million (44.5% YoY growth)
  • Promotions: €66.8 million
  • Advertising: €50.4 million (51.3% YoY growth)

Impact of Regulatory Changes
The growth follows Spain’s Supreme Court ruling in April 2024, which overturned key advertising restrictions. These changes included lifting bans on:

• Celebrity endorsements in gambling advertisements.
• Advertising targeting new customers.

Operators can now advertise to customers with accounts less than 30 days old and promote their services at lottery ticket sale locations.

Segment Performance
The Q3 GGR was distributed across five main segments:

1. Casino: €188 million (54% of total GGR) – The sector grew 9.5% QoQ and 17.3% YoY. Slots led the category with a 25.8% YoY increase, while blackjack surged by 49.4%.
2. Betting: €135.9 million (39.1%) – Posted a 19.8% YoY increase but fell 6.57% QoQ. Pre-match betting declined by 24.3%, while in-play betting rose by 8.7%.
3. Poker: €20.5 million (5.9%) – Faced challenges with a 19.7% QoQ and 23.5% YoY decline, driven by reduced tournament poker activity.
4. Bingo: €3.7 million (1.1%) – Achieved moderate growth of 1.7% QoQ and 0.7% YoY.
5. Contests: Recorded no revenue.

Player Engagement

• Active Accounts: Averaged 1,443,615 monthly, reflecting a 3% QoQ and 33.3% YoY increase.
• New Accounts: Averaged 153,181 monthly, up 1.7% QoQ and 42.4% YoY.

Outlook
Spain’s gambling market continues its upward trajectory, driven by increased player activity and revised regulations. With 77 licensed operators, including 51 iGaming and 42 sports betting companies, the sector remains well-positioned for sustained growth.