Ljubljana – 5 July 2018 – Based on the recent reports, Spain’s revenues of the online gaming market, or GGR, for the first quarter has touched 163.3 million euros. The figure, while drop of 5.69 per cent when compared to the just previous quarter, is an increase of 28.85 per cent when compared to that of the corresponding period in 2017.

This is shown by the data published by the Directorate General for the Regulation of Gambling (DGOJ), in its report on the online gaming sector, which also indicates that the betting segment has a growth rate over the same quarter of the previous year of 15.89 per cent, with some restraint compared to what was experienced in previous years (20.38 per cent in 2015, 30.33 per cent in 2016 and 20.48 per cent in 2017).

Based on these information, we can expect a spike in the revenues which will come out next year, as Spain has reduced tax rates for online gambling operators in the country. The gambling industry, quite predictably, has hailed the move and termed it as an “absolutely fantastic” news.

The tax cut was announced in the recently presented 771-page annual budget. The budget has several tax reductions for online gambling operators, most importantly a 5 per cent reduction in gross gaming revenue, slashing the tax rate from 25 to 20 per cent.