Sweden-based online gambling company LeoVegas AB, is focused on gaining a foothold in the Spanish betting market next year.  

According to an update issued to stakeholders on Friday, the Stockholm-listed company is targeting the Spanish sector for the first quarter of 2019. The company has confirmed that it has applied for a DGOJ Licence to provide casino and online sports betting products to the Spanish markets.  

Speaking about their plans, the CEO of the LeoVegas AB Group, Gustaf Hagman, said that entering the Spanish market was a key aim for the following year, as part of their attempts to expand globally across the online betting sector: 

“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.” 

Spain is widely regarded as one of the fastest growing betting markets in Europe, with figures showing that it grew by more than 30 percent in the third quarter of 2018 compared to the same period in 2017. And by gaining a foothold in the Spanish sector, LeoVegas would also potentially be opening the way to establishing itself in a number of Spanish-speaking jurisdictions, as the Spanish language is spoken by over 470 million people worldwide.  

The Spanish gambling regulator has publicly committed to expanding the country’s online gambling market next year, making it possible for foreign operators to apply for Spanish licences, and LeoVegas is hoping to bet at the forefront of that expansion, as it attempts to fulfil a stated ambition of achieving €600 million in group revenues by 2020.  

Image sourced from Shutterstock.

Published by Marcus Holland

Marcus Holland is a professional betting and financial trading writer. He has been published on various leading websites including The Street, Investing.com, Wagered.com, and Futures Mag. You can contact Marcus at marcus@bettingreporter.com.

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