Ladbrokes Is To Open 70 Branches In Spain
Sunday May11, 2008 4:35 pm
The European Group for betting launched an attack ladbrokes, Wednesday, the Spanish market, saying that it would open 70 agencies by the end of ‘years.
Ladbrokes, which has a joint venture with Cirsa, producer Spanish casino, bingo and slot machines, said that his agency will first open in Madrid in about two weeks.
Many large companies gambling in Europe are perfectly equipped to go in Spain and Italy to take advantage of the recent relaxation of laws on gambling.
The company rival in the UK, William Hill, and his partner Codere, also plans to open 70 agencies in Spain, later this year. The Greek Intralot will see 100, while private capital owned by Gala Coral has been in negotiations with potential partners Spaniards in the last six months.
According to data from consultants MECN, for the Spanish market betting is expected to grow amounted to 39 billion euros ($ 58 billion) by 2010, with the market for sports betting that is ready to reach 4.5 billion euro.
Some analysts argue that large companies betting ladbrokes could have up to 1000 agencies and betting kiosks throughout Spain in the next 5-8 years.