London Stock Exchange-listed Flutter, which is also part of the Financial Times Stock Exchange 100 Index has recently decided to expand its presence on the Spanish market by opening a new hub in the autonomous city of Ceuta. The expansion is an important milestone in light of the ten years of operations that Flutter International has recently celebrated in Spain.
Flutter Will Transfer Its Spanish Licenses from Malta to Spain
The new Ceuta office that has been officially open since the beginning of the year will soon host 30 new jobs. Ceuta will bring the operator a series of important advantages, including smaller iGaming taxes and the familiarity of the Spanish market that will receive the new Ceuta hub with open arms.
The main goal of the new office that will also be an important component of the group’s Flutter International unit will be to promote more growth in the European country. The hub will contribute to the work of the operator’s flagship brands, Betfair and PokerStars, which have been a constant presence on the regulated online gambling market in Spain for over a decade.
To open the new Ceuta enclave on the northern border of Africa, Flutter has decided to transfer its Spanish DGOJ gambling license from its Malta offices to the brand new location in Ceuta. Flutter International Spain’s Managing Director Elisa Miguel Fonseca will be responsible for overseeing the new Ceuta office. The group plans on using the Ceuta domain as an important contributor to an online gaming “center of excellence”, according to Fonseca.
Why Flutter Chose Ceuta for Its New Office in Spain
Ceuta is an excellent city with many local talents that the operator plans on harnessing to the fullest both within city borders and all across the gambling market in Spain, where Flutter is licensed to operate. A few years ago, the city passed a bill regarding betting companies and related activities on its territory, which helped it attract leading betting groups like Sportium, Luckia Games, and Bet on Red Digital. During the first three months of 2021, Ceuta’s tax agency scooped up over $6.6 million in gambling taxes alone, six times more than the taxes collected during 2020.
While Spain is one of the many European countries with lots of strict betting regulations and continuous upgrades in regards to problem gambling prevention, the fact that Ceuta is an autonomous city gives Flutter and other interested operators a great advantage here. Plus, Flutter’s solid responsible gaming policies will continue to be appreciated in the country.
The group has received a pleasant welcome on behalf of the authorities in the city which have been actively involved in attracting new global iGaming companies and their business headquarters in the city. The authorities’ efforts were not in vain, as the city managed to attract more than 20 prestigious gambling operators in recent years, with names like Casino de Barcelona, 888 Holdings, Circus Gaming, and Betfred on the list.