bwin.party awarded Spanish operating licenses
The products will be offered through three online sites as follows: bwin.es, partyPoker.es, binguez.es.
Commenting on today’s announcement, Jim Ryan and Norbert Teufelberger, Co-CEOs of bwin.party, said: “Our aim is to secure market-leading positions in all five products through leveraging the inherent strength of our two prime brands, PartyPoker and bwin, which has attained high consumer awareness through its sponsorship of Real Madrid, and also through a new, localised brand called Binguez. Our launch in Spain will also be a key merger integration milestone for bwin.party as all of the three sites’ products will be hosted on a new, technologically advanced and fully integrated gaming platform that will enhance the consumer’s gaming experience.”
Approximately 4% of the Group’s revenues in 2011 were generated in Spain. Revenues generated under the licences will be taxed at the rate of 25% of gross gaming revenue. In accordance with the regulations, the Group has been paying taxes on all revenue generated by Spanish customers since 29 May 2011.
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