William Hill Investigating Spain

William Hill seems to think that Spain might be the better move for the bookmaker, as Italy appears to be much more regulated than their Spanish neighbor. They are working with another slots and gambling company – Codere – to open up shops there.

The company says that the areas that they are looking into are much more relaxed in as far as their regulations go. It seems like it could be a good fit for the company. They say that they are looking to start a “pan-Spanish” business and that working with Codere is the way for them to accomplish that goal.

With Spain being a gross-win tax market, it is more open than Italy is, at least for now. If the laws and regulations in Italy relax as well, then the company could be looking at other avenues there in the future. With Madrid having somewhere around 15% of the population, they find that this area will be one of the best places for them to lay down some roots.

The company says that they are also looking to move into Catalonia and Valencia, but must do more research to see if they are truly a good move for them. They reference recent surveys that show that the Spanish betting market is growing at record speeds. They say that they are expected to grow by 2010 at an amazing rate. They believe that they will hit somewhere around 4.5 billion euros just for the betting market, and 39 billion euros for the slots and gambling market as well.



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