Spain’s gaming regulators have added to the product offering available to the country’s new online licensees.
New betting propositions include competitions and equestrian events sponsored by the Interna-tional Federation of Horseracing Authorities, the European Trotting Union and the International Trotting Association.
Operators are also seeking the addition of online bingo and slot machines.
In view of the fact that the new licensing regime is generating “important” revenues, the government said—€150 million to €200 million this year alone, rising to €300 million in three to five years—it is also proposing important changes to gambling taxation in a new draft legislative package. The new rules will allow gamblers to deduct losses from their wins for tax purposes.
In another significant move, the government is proposing a reform of the Local Financial Act that will benefit Las Vegas Sands’ multibillion-dollar EuroVegas project by allowing tax exemptions or reductions of up to 95 percent of the land value tax and the economic activities tax.
Regulators, meanwhile, have compiled a list of potentially illegal websites with significant volume in the Spanish market, and are pursuing enforcement proceedings. As a result, 55 have closed down voluntarily.