Exclusive: Ladbrokes applies for Spanish and Danish licences
UK bookmaker plans to offer full range of products in Denmark and submit application for LBApuestas in Spain following final draft legislation next week.
Ladbrokes has applied for online betting and gaming licences in Spain and Denmark, the operator has exclusively revealed to eGaming Review.
In Spain, Ladbrokes said it intends to submit a licence application for LBApuestas under the national licensing process. The Spanish regulator is due to announce final draft regulation early next week with a view to fast-tracking through the first licences in December this year in time for the 20th of the month, the last working day before Christmas.
According to H2 Gambling Capital the value of egaming gross win in Spain is £408m, and is growing at around 8% per year with sports betting the largest product.
Ladbrokes has an existing retail joint venture in Spain branded Sportium, operating corners and shops in the Madrid and Aragon regions. In a statement released to eGaming Review the operator said the JV plans to expand into the Navarra and Valencia regions in the coming months with Ladbrokes’ latest self-service betting terminals being introduced.
In Denmark, Ladbrokes said it is “aiming to build on its brand recognition in the market”, where it has operated since 2002 by launching a Ladbrokes.dk service.
Danish licences are due to be issued in December with the first licences going live in January next year. Denmark will be the first country in the Nordic region to regulate online gambling adopting a 20% gross profits tax regime.
On 20 October eGaming Review reported that the Danish Gambling Authority had received more than twice the expected amount of applications from operators ahead of the market opening on 1 January.
A total of 68 licence applications from 43 operators were received by the Danish body in time for the Gambling Authority to process and eventually announce which companies have been successful in mid-December this year.
Of the 43 operators, 25 have applied for both an online casino and sports betting licence, 22 have applied solely for an online casino licence, while none have applied solely for a sports betting licence.
H2 values the Danish market at £284m in gross win, but it is expected to grow at 18% a year following regulation in 2012.
In both markets Ladbrokes will offer the full range of betting and gaming services allowable including fixed odds, casino, poker and games, the company said. Its current gaming partner Microgaming will extend the supply of its services to these new markets, it added.
Adam Greenblatt, Ladbrokes director, corporate and international development said: “Ladbrokes is already operating successfully in both Spain and Denmark. The regulation proposals are among the most sensible frameworks we have seen in Europe and we would be hopeful that tax conditions in both markets may improve over time. This is a good opportunity for Ladbrokes to build on its presence in both markets.”