How The Canary Islands Became A Haven For The Gaming Industry

The Canary Islands are commonly known for their dramatic coastlines, beaches, and sunny weather. However, there is another side to them that most people miss and that is their role in the iGaming industry.

The Canary Islands have become a major location for Europe’s online gambling industry but what is it about the archipelago that has attracted iGaming companies?

Location

One of the big benefits of operating in the Canary Islands for iGaming developers is the location. They are closer to Africa than they are to mainland Europe yet they are under Spanish control. That means the Canary Islands are part of the European Union and that offers access to European markets.

However, different regulations and tax benefits mean iGaming companies enjoy superior operating conditions than they would if they were based in mainland Europe. The Zona Especial Canaria (ZEC) means companies based on the islands can claim reduced corporate taxes, something that every business would like to enjoy.

These favourable conditions have attracted many online gambling companies and developers are creating the next big online slots in the Canary Islands.

Conferences and Developers

The Canary Islands have become a focal point for online gaming conferences and forums. One of the most recent events was the I Professional Forum ‘Canary Islands Games’ at the Presidency headquarters in Santa Cruz de Tenerife.

There are many video games currently being developed in the Canary Islands, including ‘Demeter’ by Quantum Box Games, ‘Arico: Tales From the Abyss’ by Foxter Studio, and ‘Satori’ by Eteru.

So, there is already a strong video gaming industry developing in the islands and that is something iGaming companies can use to their advantage. Events like TLP Tenerife and the Canarias Game Show continue to bring many online gaming developers and influencers to the islands.

With gaming developers in the Canary Islands gaining international recognition for their games, it is easy to see why the iGaming industry is making a move into the region.

Local Talent

iGaming companies are full of talented individuals who work as a team to create new games and casinos. However, as these companies’ set up in the Canary Islands, they will want to attract local talent to their teams.

The Canary Islands boasts a growing pool of talent from local universities and colleges. Educational institutions are now offering specialised courses in game design and they are making connections within the iGaming industry.

That means graduates leave university with the skills and connections to begin their journey in the iGaming industry. With more students leaving university with gaming-based qualifications, it makes sense for iGaming companies to want to establish themselves in the region.

Responsible Gambling

Responsible gambling should be at the heart of all iGaming companies. The Canary Islands gambling regulations are about to be transformed in 2025. Most of the changes are going to impact land-based gambling but the move to a more modern framework bodes well for iGaming.

The big companies in the iGaming industry do not want to operate in a region where the population suffers from a gambling problem due to poor legislation. They want to base themselves in a place where gambling, the economy, and public welfare are working together to produce a stable, successful, fair, and enjoyable environment.

With positive changes being made to the gambling regulations in the Canary Islands, the region is fast becoming a haven for the iGaming industry.

Source: canarianweekly.com

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