LeoVegas acquires Spanish gaming licence
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LeoVegas.com has added yet another string to its bow with the acquisition of a licence to operate gambling services in Spain.
The Scandinavian firm will offer both online casino games and sports betting to Spanish punters, although a launch date is yet to be confirmed.
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According to LeoVegas Group CEO Gustaf Hagman, the Iberian peninsula is flush with opportunity for gambling operators.
“The Spanish online gambling market has a strong underlying growth with over 20% per year,” he said.
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Recent figures from the Spanish Gambling Authority indicate that only 13% of the nation’s total gaming and wagering activity is conducted over the internet.
However, the online casino sector is growing at a rapid rate and enjoyed a 20% year-or-year boost for the first quarter of 2019.
Hagman added that, besides gaining a foothold in a booming industry valued at around €1 billion, LeoVegas would use Spain as a stepping stone for future ventures in Latin America.
“The Spanish license is an important step in our continued expansion in other Spanish-speaking markets; we have already conducted test launches in Peru and Chile,” he said.
LeoVegas now holds online gambling licences in seven regulated markets, the others being Denmark, Ireland, Italy, Malta, Sweden, the United Kingdom and the German state of Schleswig-Holstein.