The Autonomous Community of Madrid has awarded Intralot's Spanish subsidiary a five-year renewable license to manage sports betting games throughout the region.
Intralot Iberia has begun developing a point-of-sale network through which players can participate in its APUESTA OE! branded suite of sports betting products. The company says it will work with existing arcades, bingo halls and casinos to set up a network of more than 100 POS terminals.
"INTRALOT is creating the ideal conditions, so as to ensure the growth of the betting market in the area, from which both the Community of Madrid, with the significant revenues expected to gain, and the players, within the framework of responsible gaming and healthly competition, will benefit," said Intralot CEO Constantinos Antonopoulos. "We are optimistic that further Autonomous Communities of Spain will be attracted by the benefits and achievements expected to arise in the Community of Madrid and will very soon open the sports betting market in their territory, too.”
Madrid opened its betting market at the beginning of 2007. It is home to approximately 6 million people. According to the Spanish Ministry of Interior Gaming Report of 2006, the Spanish gaming market turnover reached €28,8 billion in 2006, with inhabitants in the Autonomous Community of Madrid spending an average of €239 on average throughout the year.