Spain Online Gambling Licenses Coming SoonPublished February 21, 2012 by OCR Editor
Spanish gaming regulatory authorities bring forward deadline by three months.
The Spanish National Gambling Commission will start issuing their first round of online gambling licenses by the end of March, three months earlier than the delayed deadline, deputy general director Juan Carlos Alfonso Rubio indicated last week.
Good News for Spanish Online Gambling
This announcement comes as good news for potential license holders, as it corrects an earlier postponement. Spain's new online gambling regulations were initially supposed to come into effect January 1, but this was later delayed until June because of concerns over how long it would take to review applications.
Gambling operators who win a license will obtain an important foothold in one of Europe's largest economies. However, their flexibility will still be limited, and they will be subject to 25 percent gross profits tax, one of the highest to be imposed on betting companies in all of the European Union.
Long Time Coming
Spain's new gambling laws were originally approved by the country's parliament in May 2011, following months of fierce debate. The legislation allows online and mobile gambling in the country for the first time, and establishes a strictly controlled regulatory environment in which they can operate.
Spain's online gambling market was estimated to be worth some 465 million euros in 2010, and these figures are expected to grow to more than 680 million euros by the year 2015, as betting and poker gradually enter the market this year and grow in popularity.
or more on online gambling in Spain, visit Online Casino Reports Spain.