Stockholm-listed gaming operator LeoVegas has been granted an online gaming licence in the regulated Spanish market.
The permit will enable LeoVegas to offer both online casino and sports betting services to punters in Spain.
LeoVegas is now licensed to operate in seven local markets around the world, including the UK, Malta and Sweden. The operator first revealed plans to apply for a Spanish licence in August of last year.
LeoVegas chief executive, Gustaf Hagman, has said that the operator will now look to build on this licence by pursuing opportunities in other Spanish-speaking countires, citing Peru and Chile as possible future markets.
“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,” Hagman, said.
“The Spanish online gambling market have a strong underlying growth with over 20% per year. The Spanish licence is an important step in our continued expansion, in other Spanish-speaking countries, where we have already conducted test launches in Peru and Chile.”
Gross gaming revenue for the Spanish igaming market for the three months to March 31, 2019 amounted to €193.3m (£173.3m/$219.0m), up from €163.3m in the same period last year.
Figures from Spain’s igaming regulator, La Dirección General de Ordenación del Juego (DGOJ), show betting as the main source of income, with revenue up 26.2% from €81.7m in Q1 last year to €100.8m.
The online casino vertical also saw growth in the period, with revenue up 20.2% from €56.6m to €67.1m.