It has been reported that gaming revenue in Spain has dropped by more than half, according to industry association Cejuego, compared with statistics last year.
When comparing the casino and betting revenue with the same period last year, gross revenue had dropped around fifty-seven percent from the start of the year to October, down from more than four billion Euro.
In association with the University Carlos III of Madrid, Cejuego compiled the report than showed the significant drop in the gaming Spanish gaming industry.
This decline has been consistent compared with previous years and many corporations within the industry have felt the impact of the Coronavirus pandemic and necessary restrictions put in place by the Spanish authorities.
However, the industry has already shown some signs of recovery as much of the online gambling market revenue increased almost twenty-percent during the second quarter of 2020.
Sponsorship bans on sports and new Covid-19 restrictions in Spain in relation to gambling commercials meant that it was inevitable the industry was going to be impacted.
Alejandro Landaluce, Cejuegos CEO, shared comments on the news:
“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 to 15 per cent of the workforce, so that 85 per cent of employees in the sector are working at the moment.”
This news comes after Spanish politician who serves as the Minister of Health of Spain Salvador Illa announced further restrictions that are expected to be in place over the festive Christmas period in Spain with travel bans in place between some regions.
According to recent figures, there have been around 1.6 million cases of Covid-19 in Spain since recording began with more than ten thousand of these reported yesterday. Overall there has been around 46 thousand deaths in the country.