Spain’s online poker market takes another hit as Casino Gran Madrid shuts site

Brick-and-mortar casino operator Casino Gran Madrid has become the latest to determine that Spain’s online poker market isn’t worth the effort.

On Wednesday, Casino Gran Madrid announced that it would be closing its online poker site effective Friday, July 31. The decision has no effect on the site’s casino games and players don’t need to withdraw their balances, unless they have no interest in playing online blackjack, roulette or baccarat.

Should players not have any interest in playing online casino games, they will have until August 31 to withdraw their balances and exchange their accumulated VIP points for cash. Players can also exchange VIP points for tournament entry fees at Casino Gran Madrid’s live poker room until December 31, but players must still notify the casino of their intent by August 31.

Casino Gran Madrid isn’t permanently shutting the door on online poker, saying it hopes to resume online play when it feels it can offer players a “more appealing” product. Presumably, this translates as ‘a poker site at which you’ll find other players,’ given the vertical’s dominance by PokerStars and 888 Holdings, who are believed to control up to 90% of Spain’s regulated online poker market.