eoVegas has been granted a gaming license in Spain and will launch the Spanish site shortly. The gaming license applies to both casino and sports games.
"We welcome Spain as our 7th locally regulated market. With LeoVegas position as ‘King of Casino’ we are now entering Spain with the ambition to take the mobile position and offer the ultimate gaming experience. The Spanish online gambling market has a strong underlying growth with over 20% per year. The Spanish license is an important step in our continued expansion, in other Spanish-speaking where we have already conducted test launches in Peru and Chile,” says Gustaf Hagman, Group CEO.
LeoVegas’ expansion strategy is to enter regulated markets or markets with plans to regulate. Today the company has gaming licenses in Malta (EU), the UK, Denmark, Italy, Sweden, Ireland, the German state of Schleswig-Holstein, and now also in Spain.
In connection with a launch, marketing —with a data-driven approach— will gradually increase, and every marketing channel and player values are analyzed. Such analyses form the basis for continuously optimizing and scaling up customer acquisition, the company explains.
The Spanish online gaming market is worth approximately EUR 1 billion in 2019, according to H2 Gaming Capital, compared with the Swedish market, which is estimated to be worth approximately EUR 1.4 billion. Today only 13% of all gaming in Spain is online, compared with 50% in Sweden.
The Spanish online market is experiencing strong growth as more and more gaming is moving online. The most recent figures from the Spanish Gambling Authority show that the casino segment grew by 20% in the first quarter of 2019 compared with the same period a year ago. The casino segment accounts for about 35% of the total online market in Spain.