Spain approves online slots and exchange regulation

Spanish authorities this morning officially published and approved the much anticipated regulation of slots and exchange betting in the country, bringing to an end a process which lasted more than two years.

Following the Ministry of Finance and Public Administration’s confirmation, which was published in the Official Gazette, Spain’s gaming regulator Dirección General de Ordenación del Juego will open the application process and licensing window immediately.

It is expected current Spanish licence holders will be able to gain a slots and/or exchange licence in order to launch around one or two months sooner than the new licensees, however, those currently outside the market could still face at least a six-month wait.

The final legislative documents showed little change to earlier drafts with tax rates set at 25% of gross gaming revenues and operators will still be required to implement strict social responsibility and player protection measures.

Operators will have to provide players with on-screen messages to detail their win or loss at the end of each slots’ session, while players will also be able to set time limits and will be unable to top-up their accounts once they have commenced play.

Licences are set to last for five years but will be renewable should operators submit their applications within four months of their expiry dates.

The addition of slots will assist Spain’s casino market leader 888 with some predicting Spanish casino revenues to double once the product is live, an estimation which last week led 32Red CEO Ed Ware to suggest could see it enter the market.