Stockholm-listed LeoVegas AB has targeted entering the Spanish online gambling market by Q1 2019.
Updating stakeholders, LeoVegas governance has this morning confirmed that it has filed for a Spanish DGOJ licence for online sports betting and casino services.
Gustaf Hagman, LeoVegas AB Group CEO, detailed Spanish market entry as a key directive for 2019. He said: “We are now taking the next step on our global expansion journey and apply for our first license in a Spanish-speaking country. 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.
“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% in Q3 2018 compared to 2017.”
Spain’s gambling regulator has committed to expanding the nation’s online gambling marketplace in 2019, allowing for further foreign incumbents to apply for licensing under a revamped framework.
Highlighting growth in new markets during 2018 trading, LeoVegas governance announced its leading ‘2020 corporate vision’ – targeting €600 million in group revenues, combined with a corporate EBITDA of €100 million.