Online gaming revenues soared 13.8 percent last year in Spain, possibly inspiring the government to consider reworking the tax codes to capture more of that money.
According to the country’s gaming regulator Dirección General de Ordenación del Juego (DGOJ) casinos reported the dramatic increase in online gaming profits, despite a 7.1 percent drop in overall sports betting revenue.
The total was €850.7 million ($1.001 billion) in 2020 compared to €748.2 million the year before.
Spanish players spent 15 percent more on online gaming in 2020 than the year before. Casinos increased their marketing expenditures b 24.2 percent over the same period.
Because of widespread lockdowns in Europe last year, sports betting was the largest source of gaming revenue, 44.8 percent of total GGR (Gross Gaming Revenue.)
The Spanish Minister of Consumer Affairs, Alberto Garzon, has announced his department will review the tax regime. He told a Europa Press radio audience that his ministry is looking at new tax formulas but added, “no specific project has been put on the table.”
Nothing could be done without the approval of the Minister of Finance, Garzon said.
