Tag Archives: Spain

Spain: Casino closes gap as online gambling revenues pass €850m

Spain

The online gambling market in Spain generated €850.7m in 2020, an increase of 13.7% on the previous year, as casino almost completely closed the gap on sports betting in the battle for largest market share. As revealed in the ‘Spain Betting Focus‘ report published by BtoBet, sports betting still came out with the highest gross gaming revenue (GGR), with a …

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Martin Lycka: The importance of being liquid

Market-by-market, regulators face critical choices in how to govern the intricacies of managing product liquidity vital for all online gambling disciplines. Martin Lycka, Entain Plc’s Senior VP of North American Regulatory Affairs and Responsible Gambling examines how regulators should approach online gambling’s complex liquidity conundrum, maintaining a balance between effective market management and commercial appeal for consumers. ____________________ Liquidity is …

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Spanish operators warned of Garzón’s tax review intentions

Alberto Garzón, Spain’s Minister of Consumer Affairs, has revealed his department’s intentions to undertake a wholesale review of the country’s gambling’s tax regime across all licensed verticals. The minister made his statement in an interview with Europa Press radio, revealing that Spain’s Ministry of Consumer Affairs had ‘studied potential new formulas to tax gambling and sports betting operators’. Garzón maintained …

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Spain launches public consultation on tricky loot box judgement

Spain’s Ministry of Consumer Affairs has launched a public consultation seeking guidance on how to ‘modify the Gaming Law’ to include loot boxes as a gambling vertical.  The consultation has been launched with the primary focus of updating Spain’s gambling laws to allow regulatory agencies to judge consumer interactions on in-game purchases and incentives that require a financial transaction. An …

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Spanish media is denied its Royal Decree delay injunction

Spain’s approved ‘Royal Decree of Advertising’ will not be delayed or modified, after the Supreme Tribunal struck down an injunction launched by Spanish media trade union the ‘Asociación de Medios de Información’ (AMI). On Friday, the ‘commercial disputes chamber’ of Spain’s Supreme Tribunal rejected AMI’s appeal to postpone the 1 May enforcement of the Royal Decree’s blanket ban on gambling …

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Jdigital debuts problem gambling therapy helpline with FEJAR

Jdigital has signed a ‘collaborative agreement’ with Spanish problem-gambling therapist FEJAR, which will see its members promote a new treatment support freephone helpline (tel- 900 533 025) across their digital inventories.  The Spanish online gambling trade association has revealed that eight of its members – Codere, Ebingo, Entain, Flutter, Sisal, Sportium, Wanabet and Winamax – have begun the ‘first phase …

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CIRSA stands by global portfolio despite €255 million loss

Grupo CIRSA, Spain’s largest gambling operator, has published its 2020 financial accounts, revealing group-wide operating losses of €255 million.  CIRSA, which is fully owned by US private equity fund Blackstone Group, cites that its financial performance had ‘rebounded’ during the second half of 2020 trading, as the company posted a better than anticipated full-year EBITDA of €126 million. Nevertheless, CIRSA …

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Codere defers debt note duties until 2023

The creditors of Codere SA have allowed the Spanish gambling group to renegotiate the terms of its senior secured debt notes. The Bolsa Madrid gambling group has been allowed to defer its debt maturity payments from 2021 to 2023 as part of the firm’s ongoing restructuring arrangements. Back in July, company creditors had allowed Codere to access a further €250 …

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Jdigital orders Supreme challenge against Royal Decree federal enforcement

Spanish online gambling trade association Jdigital has confirmed that its appeal against the gambling amendments of the ‘Royal Decree on Advertising’ has been accepted by Spain’s Supreme Court. Representing the interest of Spain’s licensed online gambling incumbents, Jdigital takes its existing dispute with the Ministry of Consumer Affairs to Spain’s highest-ranking law court. The trade association maintains that the decree …

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Spanish media trade union contests Royal Decree’s ‘discriminatory timetable’

Spiffbet

The Supreme Tribunal of Spain has accepted an appeal lodged by Spanish media trade union Asociación de Medios de Información (AMI) challenging the amendments of Spain’s Consumer Affairs Ministry on the ‘Royal Decree of Advertising’.  Published in yesterday’s government gazette, the AMI has urged the Supreme Tribunal – Spain’s highest-ranking legal body – to review Consumer Affairs orders that the …

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