Industry News

Gaming Revenue in Spain Drops 50% Year-on-Year

Published

4 years ago

December 4, 2020

Niji Narayan

Gaming Revenue in Spain Drops 50% Year-on-Year

Reading Time: < 1 minute

According to an annual report on gaming compiled by industry association Cejuego with the University Carlos III of Madrid, gambling revenue in Spain has dropped by 50% year-on-year.

The report shows gross revenue for all products and channels was €4.35bn for the period up until the end of October, down 50% compared to the same ten months in 2019.

Of the revenue reported so far this year, private companies generated €2.45bn while the state-owned Organización Nacional de Ciegos Españoles (ONCE) and Sociedad Estatal Loterías y Apuestas del Estado (SELAE) generated €1.9bn.

“Despite the fact the drop in income from gaming companies is higher than that recorded in other sectors such as fashion, automobiles or in-store sales in department stores, we have managed to reduce ERTES [temporary layoffs or reductions in hours] to 15 per cent of the workforce, so that 85 per cent of employees in the sector are working at the moment,” Alejandro Landaluce, CEO of Cejuegos, said.

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.