Tag Archives: Spain

Nueva Codere recovery outlook bolstered by positive Q1 results

Nueva Codere has declared that it is on course to match its ‘pre-pandemic’ financial performance as the Spanish and LatAm gambling group begins to benefit from its corporate restructuring.  Trading in its new identity, following its delisting from the Madrid Bolsa and the demerger of the Codere Online unit – Nueva Codere has announced that it has achieved corporate revenues …

Read More »

Jdigital bolsters integrity training as sports corruption is placed at forefront of Spanish reforms

Jdigital, Spain’s online gambling trade association, has shared knowledge and insights on match-fixing and sports corruption with the National Police Department. This week in Barcelona, Jorge Hinojosa, Director General of Jdigital, participated in a series of workshops organised by the Training & Development unit of Spain’s police department.  Jdigital’s workshops aim to strengthen the training of police officers across Spanish …

Read More »

Spain to vote on DGOJ to take ‘central control’ of betting fraud duties 

Spain’s Congress of Deputies has approved for MPs to vote on a set of new measures to be applied to ‘The Gambling Law’ that will strengthen the “state’s control on monitoring betting fraud to help tackle sports corruption”.  The Congress that serves as Parliament’s ‘legislative review branch’ voted unanimously in favour (343 votes / 0 against) of approving amendments that …

Read More »

Madrid Decree toughens rules on gambling venues 

The Governing Council of Madrid has approved a ‘Community Decree’ that will overhaul how betting and gambling premises operate within Spain’s capital city.  Last week, the council unanimously voted in favour of the decree that will override the existing laws that oversee gambling premises operating across Madrid’s twenty-one districts.   The decree aims to desaturate the presence of betting venues within …

Read More »

Rank softens year earnings as UK venues catch a cold 

Rank Group Plc has downgraded its 2021/2022 full-year EBIT profit guidance from £55m-to-£65m to the lower range of £47-to-£55m – having considered  Q3 trends that detail a ‘softness in venue trading’ and ‘continued inflationary costs’.     The LSE gambling group has notified investors that it continues to monitor post-pandemic elements that are impacting the full recovery and day-to-day trading of its …

Read More »

CIRSA appoints Antonio Hostench as new Group CEO 

Grupo CIRSA has announced the appointment of Antonio Hostench as new Chief Executive of the Blackstone-owned Spanish markets gambling group. Yesterday, the board of CIRSA informed stakeholders that it had decided to split the duties of CEO and Chairman that Joaquim Agut had served since 2018, following US PE fund Blackstone’s buyout of the company. Agut will now solely act …

Read More »

Spanish monopolies ordered to cut sports sponsorship budgets 

The Spanish government has ordered state-owned companies to comply with a 2022 Budget Law order that will demand incumbents to drastically reduce their sports marketing and sponsorship budgets.  Enterprises such as SELAE, Spain’s state-run lotteries society and monopoly counterparts RENFE (rail networks) and Correos (the post office) can no longer spend more than 2% of their accumulated net profits on …

Read More »

CIRSA beats expectations as business returns to operating profits  

Grupo CIRSA has praised the ‘robustness of its global operations’ as the Blackstone-owned Spanish gambling business delivered full-year financial results above market expectations. Publishing its Q4 and full-year 2021 results, CIRSA registered group revenues of €1.11 billion, up 30% on corresponding FY2020 results of €843 million. Improved revenue results were maintained despite continued COVID-19 restrictions impacting operations across Spanish provinces …

Read More »

Flutter opens Ceuta hub to support Spanish market growth ambitions  

Flutter Entertainment has opened a strategic hub in the Spanish autonomous city of Ceuta to support its Spanish market operations. Local news sources have disclosed that the hub will form part of the ‘Flutter International’ unit of the FTSE100 gambling group, who are reported to be in the process of hiring 30 Ceuta based employees The Ceuta hub aims to …

Read More »

Spain moves to unify fragmented Problem Gambling networks

Spain’s Ministry of Consumer Affairs has launched a public consultation seeking guidance on its objective to overhaul the structure of Spain’s current problem gambling treatment support network, operating across the nation’s 17 autonomous communities.  Launched on 4 January, the consultation forms part of the Ministry’s ongoing ‘Decree Project’ that aims to establish new safer gambling laws that will be adopted …

Read More »