MECN (Media & Entertainment Consulting Network) revealed a very interesting and optimistic report pertaining to the future of the online Spanish gambling market.
The Spanish Government passed laws in May which went a long way to liberalizing and transforming many sectors of the Spanish online gambling market. These changes are set to fall into place at the beginning of 2012.
MECN has come out with the most detailed report and analysis of the Spanish online gambling market.
According to the report up to 80% of the current gaming operators are interested in applying for an online gambling license and in light with the new changes in law are ready to do so right away.
The Spanish Online casino market is seen as a potential hot spot for global players.To quote one operator,” Spain is already a key region for us — and we will do everything we can that it stays this way”.
A major factor contributing to Spain’s huge potential is the fact that gambling taxes are significantly lower than other regions (about 25% of gross revenues.) This makes most of the experts optimistic and they believe that obtaining a Spanish license would be financially lucrative.
This sentiment was emphasized by MECN Director Martin Oelbermann, ”Many operators lost a significant amount of money in the liberalised French market — therefore, operators became more sceptical. They now analyze the financial effects of the tax rates and other key regulations (e.g., identification processes) even more closely. But the Spanish model seems to convince them and brings back a lot of optimism to the industry”.
The Spanish Gambling market is huge with revenues of €28 billion in turnover in 2010 with €9.5 in gross revenues. I am sure we will see all the scratch cards operators making entries into the Spanish market with figures like these.
Traditional Scratchcards are quite popular in Spain and we see it taking off in the market there tremendously. The online casino market looks like it has a new home and we look forward to welcoming the Spaniards to our wonderfull world of Scratch card gaming soon.