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Portugal GreenLights Online Gambling Law
Friday June 20,2014 : PORTUGUESE GOVERNMENT GREEN LIGHTS ONLINE GAMBLING LAW
Will parliament rubberstamp the legislation?
Portugal's slow but inexorable march towards nationally regulated and licensed online gambling continued Thursday with the news that the government has signed off on the proposed legislation, which now goes to parliament for its imprimatur.
Portugal's Secretary of State Adolfo Mesquita Nunes, said the law now requires only a formal final approval by the National Assembly, and should come into force before the end of 2014.
The draft has continued to shy away from the monopolistic, state-owned model that at one time appeared inevitable, and licensing will be available to companies in much the same way as it has been possible in other European nations like Italy, France and neighbouring Spain.
The regulator and licensor will be a body titled Inspecção Geral de Jogos, which currently operates within Portugal's tourism ministry, although it will be substantially beefed up, according to Nunes.
Licensing requirements will be stiff and include probity checks and financial limits that include a minimum share capital of Euro 250,000, and companies must be registered and located in Portugal, using Portuguese domains.
Tax rates will be similar to those applied to the land gambling business, with tax revenues devoted to finance and sports coffers.
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Amaya FY2016 Trading Update -
The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.
LeoVegas To Sponsor Leicester Tigers -
The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.
Optima Information Services iShop -
Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.
CAGAYAN CHIEF MOVES TO REASSURE LICENSEES -
Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.
New Massachusetts Online Gambling Bill -
It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.
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