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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.
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Gaming Revenue in Spain Drops 50% Year-on-Year
