[C O L U M N I S T ]
The Spanish challenge
Less than two months after licences were awarded and companies switched on their dot.es brands, a number of tough challenges are being faced by both local and foreign operators. And there are plenty more to come, explains Spanish economist Eduardo Morales Hermo
> By Eduardo Morales Hermo > Consultant, senior advisor – Spain and Latam Ficom Leisure
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ust six weeks after the Spanish online gaming market has been activated, and nothing unexpected has happened so far. International operators already in the market prior to regulation are the ones taking the lead, even though take up has been slower than projected by many experts and analysts. The major challenge is the content of various new regulated products, something very different to the offering players were used to in a dot.com environment: no slots, low liquidity, poker networks, a signi?cant tax burden of 25% GGR, as well as migration and new account registration processes. These are all areas that need addressing, particularly among local operators who, despite delays to the market opening, have not seriously grasped the issues that were in store and that also lay ahead. The leaders in poker have already been identi?ed and replicate several other newly regulated markets such as Italy: PokerStars.es is the clear frontrunner in liquidity terms with a regular ?ow of 20,000 players in the mornings and an average 24-hour peak, at the time of writing, of more than 2,400 players; twice as many as its nearest competitor 888Poker.es, and almost treble PartyPoker.es, with iPoker.es in fourth place. A major issue has been the taxation of winnings with players unable to deduct losses. This has been a matt ?????????????????????????????????????()??????????????????????????????????????????????????????????????5??????????????????????????? ????????????????????????)????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????()??????????????????????????????????????????????????????????????????????????????????????5?????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
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