Trade associations representing the bingo industry in Spain have warned that without the introduction of electronic bingo machines, the bingo industry in the Spanish capital may come to an end.

"If the bingo sector in the Community of Madrid is not given the ability to introduce new areas of business to innovate and expand the range of entertainment offered, it will close," commented Jose Luis Merino, the general secretary of ASEJU, one of the trade associations representing the industry.

In Madrid there are approximately 60 big bingo clubs which employ 2,500 people in the city and a further 2,500 people in support industries. It is reported that last year the city collected €300m in taxes from bingo. Operators are waiting for licences to introduce electronic bingo, replacing the traditional machines with card displays - and the right to improve prizes.

The industry has lobbied authorities to adopt a model for the industry similar to that in Italy. Taxes from winnings have been reduced by 50 per cent and the prizes improved to a minimum of 70 per cent of the income.

In Madrid the community takes 61.11per cent of the income from machines. Spain has enough problems in terms of unemployment and government debts and cannot afford any further problems. The question of sovereign debt still hangs over today's numbers and the problem for Spain is that if it doesn't grow quickly enough it will struggle to pay of its debts.

Like Portugal, Ireland and Greece, Spain is paying much more for it’s debts than the likes of Germany - a sign of lingering concerns about their creditworthiness.