Tuesday December 30,2014 : POKERSTARS WITHDRAWS ITS SPANISH ONLINE CASINO OFFERING
Technical modifications necessary to comply with local regulations, operators says.
The Spanish real money online casino offering from Pokerstars has been withdrawn from the market after just two months of operations.
The company claims that the withdrawal is necessary for technical tweaks in order to comply with local regulatory requirements on the availability of hand histories.
However, industry observers report that the the new enterprise was slow to take off with Spanish players and has turned in a disappointing performance. This may be due to the lack of sign up bonuses and a loyalty program in a competitive market.
Pokerstars communications indicate that the exit is temporary, and that the casino product will be back in Spain in a matter of weeks.
The Spanish market is a tough one for operators to survive, let alone prosper; regulations are stringent, licensing costs are high and are exacerbated by a 25 percent tax on gross gaming profits, and there's a 1 percent administration fee on turnover.