Spanish gambling income decreased by half annually – Finance – iGB
The most recent Spanish Gambling Yearbook by the Spanish Gambling Industry Association Cejuegos, compiled in collaboration with Madrid’s Carlos III University, reveals that gambling income dropped by 50% between January and October 2020.
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Spanish gambling income decreased by half annually
Statistics show that total income across all products and channels was €43.5 billion in the 10 months, a 50% decrease from 2019.
Of the 2020 income, €24.5 billion originated from private gambling companies, while €19 billion came from state-owned organizations, the Spanish Organization for the Blind (ONCE) and the National Lottery and Gambling Company (SELAE).
In 2019, gambling accounted for 0.8% of Spain’s GDP, with SELAE and ONCE income reaching €45.9 billion, a 6.2% increase from 2018, and private gambling company income reaching €48.6 billion, a 0.1% decrease from the previous year.
The report notes that the gambling industry had not yet recovered from the downturn it experienced during Spain’s previous economic crisis by the end of 2019. Total income that year was €102.3 billion, down 6% from the years before the crisis.
Most of the private gambling income in 2019 came from machines in hotels and bingo halls, while 7.7% (about €776 million) came from online gambling.
The industry employed 84,797 people in 2019. This included 47,047 private sector workers; 18,463 SELAE workers and 19,287 ONCE workers.
Furthermore, amusement centers have generated roughly fifty thousand indirect positions in the lodging sector.
Alejandro Landaluce, the head of Cejuegos, stated that even though gaming businesses have witnessed a more significant decline in income compared to in-person sales in other industries like fashion, automobiles, or department stores, they have decreased temporary layoff schemes to fifteen percent of their workforce, indicating that eighty-five percent of the industry’s personnel are presently still employed.
Data published in October revealed that the Spanish online gambling market expanded by seventeen point seven percent annually in the second quarter of two thousand twenty, with growth in online casinos and poker balancing out the decrease in sports wagering due to the worldwide suspension of athletic events.
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