Spain double-digit growth buoyed by sportsbook margins
Advertising spend falls 1.4% in Q4 2017 while sports sponsorships rise triple digits
Spanish online gaming revenues climbed 38% year-on-year in Q4 to €173m, with much of the uptick driven by an unsustainable run of sporting results.
Sportsbook revenues soared 49% year-on-year in Q4 17 to €103.6m, despite just a 6% rise in turnover, while casino also recorded a 37% increase to €49.4m, according to figures released by the regulator (DGOJ).
Advertising spend fell 1.4% during Q4 to €31.3m while sports sponsorships rose 102% on the previous year to €3.15m.
Customer deposits also reached a record high of €328.9m, up 59% year-on-year.
Poker revenues were relatively flat at 1.5% but the vertical is expected to be reinvigorated by the country launching shared poker liquidity pools.
The regulator opened its latest licensing window in December in the hopes of drawing in more interest to the market.
Head of the regulator, Juan Espinosa Garcia, has previously said his aim was to keep applications for new licences open throughout 2018.
Malta-based operator Betsson is planning to launch its flagship brand in the Spanish market in March in an effort to boost its share of the growing market.