Melco International will continue with Spanish casino license bid despite fall out with Veremonte.
Melco International recently announced it had terminated its partnership with Veremonte Group in its Spanish casino license bid. However, Melco will continue to press forward as an independent bidder.
According to gambling news, its new filing will allow Melco’s participation to remain in the tender despite the company’s recent drop in attributable profits. The company’s net profit took plunge of a whopping 88% for the first half of 2015 due to unfavorable market conditions.
In order to remain in the tender for the Spanish casino license bid, MelcoLot has conditionally agreed to purchase 99% of the issued share capital of Melco Property Development for HKD 502.92 million (USD 64.9 million).
Spanish casino license bid remains while online gambling continues to soar in Spain
As the Spanish casino license bid gradually proceeds to its next phase, online casinos in Spain continue to flourish in operations and revenue. Recent reports showed that the country’s gross gaming revenue from internet gambling already observed an alarming growth of 13.4% during the opening quarter of the year as compared to the same period last year.
Internet betting remains the most popular form of online gambling in Spain while online poker comes in second. The growth in gaming revenue will be boosted later in the year by allowing licensed gaming operators to offer online slot games to their players.
Online gambling in Spain has undergone tremendous change and growth since the legalization of internet gambling under Spanish Gambling Law 13/2011 by the Spanish government in the beginning of 2002. Thus providing licensing operators a clear framework to operate legal online casinos in Spain.
To find destinations offering online gambling in Spain, visit our selection of the best Spanish online casinos in our online casino reviews section.