Flutter eyes Spanish gains with new Ceuta office

Flutter International has marked a decade of operation in the Spanish market by opening its first office in Ceuta.

The office, which has been open since the turn of the year, will see the creation of more than 30 new jobs in the autonomous region, which benefits from a reduced rate of taxation on igaming operations of just 10%, half the amount paid by operators in the rest of Spain.

In addition, Ceuta operators pay just 12.5% corporation tax rate compared to Spain’s 25% and just 4% VAT, far less than Spain’s standard VAT rate of 21%.

As part of further incentives to operators, certain activities are taxed at an even lower VAT rate of just 0.5%, including advertising, customer services, web hosting and other telecommunications functions.

Ceuta-based employers also benefit from an enhanced social security contribution of 50% from the enclave’s government.

However, in order to qualify for taxation incentives, an operator’s taxation residence must be Ceuta, and more than 50% of the businesses workforce must be usually resident in the enclave.

As part of this move, and to improve its operations in Spain, Flutter has transferred its PokerStars and Betfair Spain licences from Malta incorporated entities to entities incorporated in Ceuta.

Flutter International general manager Elisa Miguel Fonseca highlighted the benefits to the group’s Spanish operations inferred by the transfer of licences and office opening.

“In Ceuta, we’re contributing to what is fast becoming a centre of excellence for online gaming, while enjoying the benefits of access to a growing local talent pool and the Spanish market we’re licensed in,” Fonseca said.

“We’d like to thank the authorities of the Autonomous City of Ceuta for their warm welcome and look forward to embarking on a number of projects from our new offices in the future,” she added.

888, Bally’s subsidiary Gamesys Group, and prospective Flutter Entertainment subsidiary Sisal Group also operate offices in Ceuta.