LeoVegas has been granted an online gaming licence in Spain and will shortly launch its Spanish site. The licence applies to both casino and sports games, according to a press release by the iGaming company. LeoVegas’ competitor GiG also received the green light for the Spanish market today.
LeoVegas’ expansion strategy focuses on entering regulated markets or markets with plans to regulate. The company has gaming licences in Malta, where operations are made, the United Kingdom, Denmark, Italy, Sweden, Ireland, the German state of Schleswig-Holstein, and now officially in Spain.
“We welcome Spain as our seventh locally regulated market. With LeoVegas’ position as King of Casino, we are now entering Spain with the ambition to take the mobile position and offer the ultimate gaming experience,” said Gustaf Hagman, LeoVegas Group CEO. “The Spanish online gambling market has a strong underlying growth with over 20% per year. The Spanish license is an important step in our continued expansion, in other Spanish-speaking countries, where we have already conducted test launches in Peru and Chile.”
LeoVegas’ data-driven approach to marketing is one of the keys to the successful establishment, the company believes. In connection with a launch, marketing will gradually increase, and every marketing channel and player values are analysed. Such analyses form the basis for continuously optimising and scaling up customer acquisition.
Furthermore, the Spanish online gaming market will be worth of approximately €1b in 2019, according to Half Two (H2) Gaming Capital, compared with the Swedish market, which is estimated to be worth approximately €1.4b.
Nowadays, only 13% of all gaming in Spain is online, compared with 50% in Sweden. However, the Spanish online market is experiencing strong growth as more and more gaming is moving online.
In fact, the most recent figures from the Spanish Gambling Authority show that the casino segment grew by 20% in Q1/2019, compared with the same period a year ago. The casino segment accounts for about 35% of the total online market in Spain.
The Spanish government approved a five-per-cent cut in gross gaming revenue from 25% to 20%, which action has been raising high hopes for the global iGaming industry, attracting eyes to the country, according to reports.
LeoVegas submitted a licence application for casino and sports betting, eyeing to set foot in the Spanish market late last year. LeoVegas’ competitor Gaming Innovation Group Inc (GiG) also applied for an online B2C casino and sports betting licence in Spain earlier.
Today, Gaming Innovation Group Inc (GiG) has also been awarded licences by the Directorate General for the Regulation of Gambling in Spain (DGOJ) permitting the GiG to offer online casino and sports betting in Spain, according to a press statement.
EDITORIAL NOTE: The present story has been updated with information about LeoVegas’ competitor GiG’s licences received for the Spanish market too.