UK Bookmaker William Hill kicks off Spain push

Wed Apr 2, 2008 7:01am EDT
 
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LONDON, April 2 (Reuters) - British bookmaker William Hill (WMH.L) said on Wednesday it planned to have 70 gambling points of sale in and around Madrid by the end of the year in tandem with joint venture partner Codere (CDRE.MC).

According to figures from consultants MECN, the Spanish betting market is expected to grow to 39 billion euros ($57.79 billion) by 2010, with the sports betting market set to hit 4.5 billion euros.

Some analysts speculate that firms like William Hill and UK rival Ladbrokes (LAD.L) could eventually have up to 1,000 betting shops or kiosks in places like cafes or bingo halls.

The head of William Hill's international business told Reuters earlier in the year that the firm is concentrating its efforts on cracking Spain, hoping the as-yet untested region will be a better bet than the heavily regulated Italian sector.

William Hill and Codere have so far both put 10 million euros ($15.64 million) in to the push

(reporting by Marc Jones)

 
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