Part 2: Spain – online on a tear
Chart 10: Casino breakdown by product 1Q18(% of GGR)
Source: DGOJ
Casino as a product has been growing substantially, helped by the introduction of new products, but it arguably has further to grow. Market Monitor has written before about the evident success of live roulette in Spain and this has once again been demonstrated in the first quarter( see Chart 10).
Direct comparisons between jurisdictions can, of course, fail to take into account significant local factors and preferences. However, it is fair to say that in the UK it has been the new entrants in gaming, in particular, that have played their part in pushing growth in that segment. It might be argued that in Spain it is the lack of online casino market participants
which might explain what would appear to be a still underpowered casino segment.
The true test of the new taxation regime will be to see whether there is a significant expansion in the number of licensees in Spain in the next year or so. Given events taking place elsewhere in Europe and further afield( Sweden, for instance, and obviously the US) it might mean the attention of European operators without a Spanish licence is elsewhere. Asensi pointedly says that the move on the part of the government didn’ t occur due to any particular lobbying effort from the direction of the online sector, so maybe attention is elsewhere.
iGaming Business Market Monitor • UK, Spain and Denmark • September 2018 13