Part 3: Spain – a lull in activity
quarter of €125.7m, but still 20% up on the first particularly in terms of the unemployment figure -
quarter figure for 2016. It suggests a market it should be set to break the €500m barrier in the
that is still growing, albeit understandably at a year ahead.
slower rate than was achieved in 2016 when it
Further help might also come from the Spanish
had the introduction of slots and the European government. Recent comments from the new
Championships in the summer. DGOJ director Juan Espinosa Garcia prompted
speculation that the authorities might look at
Table 3: Spanish online early revenues
progression – 2012-16 lowering the Spanish tax rate – currently set at
Year GGR (€m) welcome to operators within the Spanish market.
2012 115.4 2013 229 2014 254.5 Alongside a call for international liquidity (to
2015 319.6 help kickstart a moribund poker market), the
2016 429.2
25% of GGR. Such a move would likely be most
However, according to a report from Spanish
online gambling association Jdigital, only
20% of licensees turn a profit in the country.
Jdigital president Sacha Michaud has also called
for the GGR tax rate to be cut to 15%, the same
rate as it is in the UK.
As can be seen, the market is now worth While an element of set-up losses are to be
€429.2m annually as of 2016, up 34% from the expected in a new jurisdiction, it cannot be t o the
figure of €319.6m in 2015 and now with the benefit of anyone if the market is not profitable
full product suite available and the Spanish enough for more than a handful of leading
economy recovering somewhat in macro terms – operators.
iGaming Business Market Monitor • June 2017
10