BUSINESS

Sportingbet to stay in Greece and Spain

TAGs: greece, spain, Sportingbet

sportingbet-staying-in-greece-and-spainSportingbet is to stay in the EU countries of Greece and Spain when they become fully regulated, which could be later on this year.

Company chief executive Andrew McIver told eGaming Review of the plans to stay in the two countries once they’re full regulated, after the company released results for the first half of the financial year and also for the three months up until January 31 earlier today.

“We haven’t pulled out of Australia since it was regulated in 2008. We were the market leader before and we’re still the market leader now,” McIver said. “Regulation in Greece and Spain looks to be coming soon and these are also places where we’re a market leader, so we’re applying for licenses there too.”

This was after the results revealed that Australia was still the company’s cash cow as wagering was up 5% and net gaming revenue seeing a rise of 73% in the second quarter.

In terms of Europe, including the two countries mentioned earlier, net gaming review has risen by 4%. This was despite the poor economic conditions in many countries especially in Greece and Spain.

Sports betting is one area that the sponsors of Premier League club Wolves has to thank, especially in-play, which grew by 27% for the year to date and mobile that accounted for 10% of the company’s active customers.

The company will still be waiting patiently to see the outcome of regulatory regimes in various European jurisdictions but to describe the company as bullish wouldn’t be far wrong.

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