The sports betting law that came into effect in the province of Madrid on 7 January this year permits and regulates the operation of retail betting shops based on the UK model.
bwin has been a prime sponsor of Real Madrid since 1 July this year, and has since dramatically increased its brand awareness in Spain. A pilot retail project is now being developed in Madrid in collaboration with Betbull Plc, an experienced betting shop operator in which bwin holds a strategic investment.
The final licence application will be submitted to the authorities shortly, and the first betting shop under the bwin brand is scheduled to open in Madrid in the first quarter of 2008.
The pilot project is intended to show the extent to which bwin‘s strong brand awareness can be successfully transferred to the retail sector.
Details of financing will be published once the necessary licence has been issued.