UK and Ireland's largest off-track bookmaker and online gambling provider, Ladbrokes, has announced they have secured a joint licensing venture with Cirsa Slot to obtain gambling licenses in Spain. Prior to the preeminent implementation of gambling regulation legislation in Madrid (potentially due some time in January), Ladbrokes and Cirsa Slot have agreed to mutually share between any issued gambling licenses, which can be renewed five years from the date of issue.

The regional government in Madrid recently decided it would begin to regulate betting kiosks, dedicated betting shops and certain forms of remote gambling, which could likely include online casino gambling in the near future. Submissions will be accepted in mid-January, after which time, Ladbrokes and Cirsa Slot say they will continue seeking out licenses from other jurisdictions in Spain who have hinted at considering gambling regulation also.

The Spanish gambling market is currently valued at approximately £19 billion. Having as a partner, Cirsa Slot - who operates casinos, bingo halls and arcades, services over 15,000 food/beverage facilities and is said to hold stake in roughly 9% of the gambling market - Ladbrokes has a very good chance of getting the necessary approvals to set up shop in Spain.

Ladbrokes was successful at pulling off a similar feat in Italy, where they now hold 142 betting licenses. After partnering up with Italian gaming insider, Pianeta Scommesse, Ladbrokes was welcomed with wide open arms. Having an alliance with a Spanish based gambling company such as Cirsa Slot, is likely to secure the same approval in Madrid. Their strategy for breaking into new betting markets is impressive, to say the least. There is a very good chance Ladbrokes may be offering their internet gambling package of online casino games, poker and internet sports betting in Spain as well.