Ladbrokes Targets Spanish Gambling Market
Gambling group Ladbrokes, which operates Ladbrokes Online Casino, is expanding its European operations by targeting the Spanish market.
The British bookmaker is starting an alliance with Spanish slot machine firm Cirsa Slot, whose machines are found in bars and arcades.
The new alliance will apply initially for a betting licence in Madrid, which comes under new betting regulations.
The move comes after Ladbroke's gained licences to operate betting outlets in Italy in December.
Applications for the licences in Spain, set to last five years initially, are likely to be submitted in mid-January.
The firm expects to hear on whether its application has been successful in the first quarter, a spokesperson said.
The joint venture will also be applying for licences in other parts of Spain, which - like Madrid - are also looking into regulating betting.
Cirsa Slot represents some 9% of the Spanish Slot Games machine market, and is part of Cirsa which owns and runs Casinos, Bingo halls and arcades.
"We have formed a joint venture with a market leader in Spain that gives us access to a network of thousands of potential of site operators," Ladbrokes said.
