The annual Gaming Yearbook presented a lot of interesting numbers concerning the Spanish gambling industry during the first ten month of 2020. Among the most notable outcomes is the 50% GGR drop compared to 2019. Login Casino follows the latest financial news and presents the most curious and important numbers concerning the Spanish gambling industry's financial side.
The traditional report about the Spanish gambling industry was presented at the beginning of December. The local gaming trade association CEJUEGO, in cooperation with the Carlos III University of Madrid, provided an online presentation of the Spanish Gaming Yearbook.
The first and foremost number is a 50% drop in GGR in 2020 (first ten months) compared to same period of the year before. The overall bank of €4.35B was formed by both state and private sectors. The latter showed dominance as brought €2.45B compared to the state's €1.9B.
As the two months are still ahead in 2020, the coronavirus-affected year would have some extra millions to add. The special effect will have winter lotteries fever as Spaniards love to participate in this popular Christmas entertainment.
The fact above explains why 2019 ended with a small advantage of private gaming. Thus, €4.6B came from the state's activity on the market, mostly from betting and lotteries, which was a 6% increase compared to 2018. The private sector brought almost €4.9B in 2019, which, however, was a 0.1% decrease compared to the previous 12-month period. In total, the combined revenue from gambling means 0.8% of the GDP of the whole country, where the digital part is only €776M or 0.06%.
How did the job market react to financial downfall?
Interestingly, but the job cuts were only 15% compared to a 50% drop in GGR in 2020. That is one of the proud points of the gambling representatives, who showed that they care not only about the business's financial performance. They also reminded the public that the gambling industry is vital for the country's economy and brought about €1.32B of special taxes to the treasure.