his latest development comes just two months after the country’s cabinet approved the draft gaming legislation, which will now go before the senate, and if approved it will then move on to the European Commission before being passed into law.
According to reports in Spanish newspaper El Mundo, the latest development means the market could be opened up as soon as this summer.
Also, the approved legislation will see the introduction of a transitional period “so that companies can regulate their status and sponsorship activities.”
All interested parties came out in support of the legislation with the exception of the opposition People’s Party, which has been vocal in its resistance to the creation of a national gaming commission.
The provision put in place for Spanish football clubs to offer sports betting on their premises – something which had never previously been permitted – is equally significant.
Aside from that transitional period, it is currently unclear how many of the other proposed amendments put before government have been taken on board. And it is not the first time that Spanish lawmakers have listened to outside proposals when laying down the terms for regulation.
Most notably, after initially seeming to favour a turnover tax, they then opted to include a gross profits tax in the text of their egaming legislation, following pressure from the Remote Gambling Association.
As the regulation of the Spanish market moves ever closer, a number of operators will be keeping a close eye on the next stage of developments.
Sportingbet CEO Andy McIver has already announced that his company will be applying for a Spanish licence once the market opens up, while former BetClic Everest chairman Stéphane Courbit has suggested that the French operator could be set to make acquisitions in Spain and Germany.