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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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Final 12 For MPNPT Morocco -
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MPNPT Morocco Updates -
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MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
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