The 2019 Annual Gaming Report of Valencia, unveiled this week by the local gambling commission, shows a small increase in gambling spending in 2019. Around $4.6m was spent on gambling, representing growth of 1.27% when compared to 2018’s results.
The regulator estimates that the increase in gambling spending was due to a rise in the gross domestic product (GDP) in the Valencia Community, where 779 gambling companies and more than 6,500 direct jobs are currently registered.
In addition, the government collected around $200m in taxes, or a 12.8% increase from the previous year. The land-based industry contributed with $157m, a sharp difference from the $13m contributed by the online sector.
Public lotteries SELAE and ONCE registered 32% of the total gambling spending in 2018. The national regulator captured 26% of the market, while ONCE, only 6%. Private operators totaled 68% of the total spending in 2019.
Electronic bingo generated the highest sales in 2019. Public games and ONCE draws experienced a rise in spending of 3.02% and 2.79% respectively.
Valencia Finance Councillor Vincent Soler highlighted the importance of having a rigorous regulation under the same guidelines as the gaming law that came into force last June.
He noted: “From the Autonomous Administration, as responsible for the regulation of the activity, we must guarantee both the freedom for a company to carry out an economic activity as well as the conditions in which this activity can be carried out, protecting the most vulnerable groups.”