Sports betting firm is poised to secure an online gambling licence for Madrid.
Victor Chandler is on the verge of becoming the first British bookmaker to secure an online gambling licence in Madrid.The 58-year-old businessman, who relocated his eponymous sports betting operation to Gibraltar in the late 1990s, looks set to acquire a licence for internet gaming in the Spanish capital.
Mr Chandler commented: "Madrid has the largest regional gambling market in Spain.
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"We are close to gaining a licence, which will make us the first firm to open the doors to internet gambling in the region and allow us to advertise in Spain."
The online gambling market in Madrid is thought to be worth about €250 million (£215 million), with Victor Chandler also hoping to begin operations in other regions of Spain and secure a licence in South Africa.
Last month, the firm signed a deal to become the new shirt sponsor of Championship side Nottingham Forest.
Mr Chandler's personal fortune was estimated at £150 million in this year's Sunday Times Rich List.
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