LeoVegas has entered a seventh locally regulated market after receiving its Spanish license.

The Stockholm-listed operator is now free to offer both online casino and sports betting services to players in the market.

While the operator has not given an exact date for launch of its Spanish-facing site, it first announced plans to apply for a license in the market in August and expects the site to be ready shortly.  

Gustaf Hagman, LeoVegas Group CEO, said: "The Spanish online gambling market has a strong underlying growth with over 20% per year.

"The Spanish license is an important step in our continued expansion in other Spanish-speaking markets; we have already conducted test launches in Peru and Chile."

With an approximate worth of €1bn ($1.13bn), LeoVegas says the the online Spanish market represents high potential.

Currently, only 13% of the country’s gaming takes place online, according to figures from the Spanish Gambling Authority.

But the online casino vertical increased 20% year-on-year in Q1, with this segment accounting for roughly 35% of the total online market.