The Regional Government of Galicia has started an online public consultation over the new gaming law that will be in progress until the 19th of May. The government plans to amend the current legal framework which has been in force since 1985.
The re-regulation of the market has started back in 2011 when the legislation was updated with new products and technologies, but this move did not bring the change in the “traditional view” of the gaming industry.
A Much-Needed Update
Galician government feels that it is necessary to bring a new act in order to adapt gaming to fit the current activities of this industry branch.
The government believes it is crucial to create a safe environment for all players, as well as implementing protective measures, especially when it comes to minors.
The Galician Nationalist Bloc party supported the People's Party proposal to change the gaming law, and adjust it to the increasingly popular gaming market in the region.
The People's Party suggestion emphasizes the need to create “a new gaming law in Galicia, by adapting Galician gaming regulations to the current reality of the gaming sector in Spain, in a way that responds to current needs”.
Market On The Rise
Galicia is the home of two casinos, with a total of 15 gaming tables and 25 slot machines. According to the released data, the latest revenue for table gaming stood at €2.4 million, while the casino slot revenue was €1.4 million. The number of players is also on the rise, and it currently stands at 65,466.
The figures for 2017 show that six betting operators' gaming tax revenue was €7.2m, and also reveal the sports betting is growing in popularity.
Further analysis shows that the sports betting tax revenue taken by the government in 2015 was €1.8 million, while the following year that amount rose to €5.4 million.
It is expected the sports betting revenue will significantly go up in the coming period, especially after local leaders decided to increase the number of terminals from 2,000 to 3,600.
And there’s the deal Codere signed with the Galician private gaming company Comar Group in October 2016, that will two companies to operate sports betting together. Codere stated this move would help the company to secure its position in Galicia since Comar had been present in this market for more than thirty years.