Sportingbet gains eGaming licence in Spain

Sportingbet has been awarded a Spanish eGaming licence by the General Directorate for the Regulation of Gambling.

The grant of the eGaming licence negates part of the injunction, which was imposed on Sportingbet's Spanish business on 27 March, and thus allows its Spanish business to begin trading when this regulated market opens which is expected to be next Tuesday.

Sportingbet is now in the process of filing an application with the Commercial Court in Madrid to have the remaining parts of the injunction cancelled.

Obtaining the Spanish eGaming licence marks the latest step in the company's stated strategy of increasing the proportion of the Group's gaming revenue from regulated markets.

At 11:07am: (LON:SBT) Sportingbet share price was +0.63p at 30.38p

Story provided by StockMarketWire.com

01/06/2012