Online betting and gaming operator LeoVegas has signalled its intention to enter the market in Spain with confirmation the company has submitted a licence application for casino and sports betting in the country.
“We are now taking the next step on our global expansion journey and apply for our first license in a Spanish-speaking country, Spain,” said Gustaf Hagman, LeoVegas Group CEO.
“Spain is one of the fastest growing markets in Europe. Through our technology and experience, we can effectively adapt our business to regulated markets regardless of language and regulations.
“Therefore, we expect to launch in Spain already in the first quarter of 2019,” continued Hagman. “Spanish is spoken by more than 470 million people. Naturally, we see the establishment in the Spanish market as a first step to get into several Spanish-speaking countries. The Spanish casino market grew by more than 30 per cent in Q3 2018 compared to 2017.”
LeoVegas, which was recently named Casino Operator of the Year at the CasinoBeats Awards, hopes to add a Spanish licence to those it already holds in Denmark, Ireland, Italy, Malta, Sweden and the UK.
According to H2 Gambling Capital, the Spanish market for online gaming is forecast to be worth around €1bn in 2019. Today only about 11 per cent of all gaming in Spain is conducted online although the igaming market there is experiencing strong growth.
The most recent figures from the Spanish gambling authority show that the casino segment grew by 30 per cent in Q3 2018 compared with the same period last year.