|Austrian-listed online gambling firms Bwin and Betbull have announced a joint venture in the Madrid area to take advantage of new liberal Spanish betting shop regulations scheduled for implementation next year.|
The deal marks Bwin’s first venture into land-based bookmaking although the company said that it already has a solid profile in the country following its four-year $70 million shirt sponsorship deal with the legendary Real Madrid Football Club.
Betbull said that no further financial details would be released until the application process was completed but that the partnership hopes to launch its first shops in the first quarter of 2008.
“The forthcoming year will see the fruition of many months of planning and fine tuning of our betting products and systems for the Spanish market,” said Simon Bold, a Director for Betbull.
The company also announced that it hopes to expand further in Spain as and when other regions liberalise along Madrid’s lines.
The two join a growing list of major European sportsbetting operators eyeing up Spain’s market. Previously, UK high street bookmaking giants Ladbrokes and William Hill announced plans to take advantage of the planned liberalisation in the nation’s regions with joint ventures with Cirsa and Codere respectively.