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Spain grants first round of online gaming licences
Following delays surrounding the eleventh-hour demand for companies to pay 4 years of retrospective taxes, the Spanish government has finally granted its first phase of licences for online gaming operators.
However, despite around 60 such companies having applied for a licence those granted in the first phase include likes of bwin.party, Sportingbet and 888 who between them paid a total of 50 million in back taxes at the end of last month.
Just last week, Sportingbet paid 17.2m in back taxes for the period between January 2009 and May 2012, with 888 also completing a self-assessment tax return and paying 8.7 million.
The world's No.1 online gaming company Bwin.party which paid a total of 33.6 million in back taxes for its Spanish operation between January 2009 and May 2011.
During 2011 Spain accounted for 4% of bwin.party's market and now the company worth £985.12 million is waiting to enter the newly regulated the lucrative market next week.
Last week Sportingbet shares rose 0.84% to 30p, bwin.party shares are up 0.58% to 120.70p, with 888 shares trading down 2.08% at 67.57.
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