Spain records near 11% YoY GGR climb in Q2 but falls short of Q1 total
Casino vertical behind lion's share of topline figure as slots and blackjack both post notable growth, while sports betting falls 3.2% compared to Q1 despite start of Euro 2024
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.