In a statement, the entity indicated that these revenues, on the other hand, represent a 4.1% decrease compared to the previous quarter.

“As a result of this dynamic, the Special Tax on Online Gaming (IEJO) contributed €98.1 million to the State’s tax revenue, marking an increase of 18.6% compared to the same period in 2025,” said the association, citing the first quarter 2026 report from the Gaming Regulation and Inspection Service (SRIJ).

For APAJO, the data confirms “the trend of progressive maturation of a regulated market that grew at much higher rates in the years following its creation.”

Still, the 13.7% annual growth is “the second most modest recorded in a first quarter in the last eight years and the second consecutive quarter in which revenues have declined compared to the immediately preceding period,” it highlighted.

The association further detailed that “in the fixed-odds sports betting (ADC) segment, revenues grew 4% year-on-year,” but fell 3.3% compared to the fourth quarter of 2025.

“The drop in revenue in this segment largely reflects the decrease in the margin of licensed entities to 20.4%, when in the previous quarter it had been 21.6%,” it emphasised.

The volume of sports bets, however, rose 16.96% year-on-year and 2.78% compared to the previous quarter, a “movement consistent with a lower margin, which tends to generate greater balance recycling by bettors.”

In the case of gross casino revenues, there was a 20.3% increase compared to the same period last year, "still also the second lowest rate in the first quarters of the last eight years."

The association also said that, when compared to the fourth quarter of last year, "casino revenues fell by 4.6%, making this the second consecutive first quarter in which revenues have fallen compared to the previous period."

As for users, the number of active accounts "rose 8.6% year-on-year and 8.3% compared to the fourth quarter of 2025," and new registrations "grew 10% year-on-year and 23.29% compared to the previous quarter."

"Finally, land-based casino revenues grew 0.84% ​​year-on-year, although they fell 6.9% compared to the fourth quarter of 2025," it concluded.