Paddy Power is taking a pass on the emerging Spanish and Dutch igaming markets.
According to a report in today’s EGR, Ireland’s biggest independent bookmaker will not be applying for a Dutch igaming license and will not be participating in the trouble Spanish market either.
In an interview with EGR, Paddy Power spokesman Peter O’Donovan explained the decision saying:
We’ve taken a good look at both Spain and the Netherlands.The combination of the overall market size and the local competitive dynamic mean they’re not an opportunity we’re going for.
Though there aren’t a lot of details about why Paddy Power isn’t interested in Holland, O’Donovan was pretty clear about why Spain holds little appeal.
He said that the current regulatory scheme there is just a little too favorable towards locally grown operators. (He also implied that a similar dynamic was in play in the Netherlands.)
Though Paddy Power won’t be in Holland or Spain, that doesn’t mean expansion isn’t in their long-term plans. O’Donovan told EGR:
Our view is to look at attractive markets of significant size and invest in them heavily. And we feel like over the long term we will be the winner in those markets. Spain doesn’t fit into that.
There’s no word yet on where those other, “attractive”, markets might be.
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