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ROMANIA AND MOLDOVA CONSIDER REGULATING ONLINE GAMBLING

Public protection and the allure of tax revenues
 
Online gambling is apparently high on the agenda of Eastern European nations Romania and Moldova, primarily to generate tax revenues for the state, reports the publication Mediafax.
 
In Romania, Finance Ministry secretary of state Bogdan Dragoi, told Mediafax that online gambling might be regulated and authorised as a way to attract considerable sums of money to the national budget.  The Finance Minister indicated that he wants to have an investigation carried out in a market where it is estimated that Romanians wager up to Euro 500 million on online gambling sites.
 
The minister revealed that last year Romania amended the law regulating traditional gambling and increased gambling authorisation taxes, which triggered revenues totaling 550 million lei (Euro1=RON4.1756), compared to 120 million in 2008.
 
"After the law was amended, gambling revenues increased considerably," the minister said, adding, "...we are looking into ways to regulate online gambling, and, if we manage to control money [tax] collection, we will authorise them."
 
At present Romanian law neither bans nor allows cross border online gambling, but forbids the involvement of Romanian companies.
 
On June 14 this year the Moldova government announced a project financed by the European Union which involves the amendment of the country's gambling laws, especially in regard to the regulation of online gambling.
 
The project was requested by the Moldovan Ministry of the Economy and is being conducted with the advice and support of Dr. Michael Hettich and Dr Wulf Hambach of the Hambach & Hambach law firm in Germany.
 
The newly drafted law is intended to replace most existing gambling legislation, putting in place an improved, more comprehensive structure of gambling regulation. To address these requirements, the project provided comprehensive advice on legal frameworks in the area of gambling and betting, prepared a section of legislation to address internet and other remote gambling, and made recommendations on amendments to the Draft Gambling Law, including the regulation of remote gambling via the Internet and other means of communication.
 
Online gambling is currently not regulated in the Republic of Moldova, and this situation has generated legal problems, specifically with the granting of a licence for online lottery activity in April this year, which has been unable to advance.
 
Government spokesmen have confirmed that a large number of Moldova residents are already participating in online games offered by international operators, and a recent press statement indicates that the major operators involved are PokerStars and Party Gaming, which are likely to be in the running for the first licenses under the new laws, once introduced.

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Gambling News :

Is Gibraltar Out of Luck in US Tax Challenge - Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.

Quickspin are now available in Denmark - #quickspin The roll-out strengthens the long-standing partnership between the supplier and the operator, with Quickspin games already available on Vera&John’s websites around the world.

UCypher Launches - Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.

Extreme Live Gaming In deal With Betsson - Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.

Expansion Mode For BoyleSports - The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..

Safecharge Q4-2016 - Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.

ASA Most Controversial Ads of 2016 - Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.

Yggdrasi To Enter Italian Gambling Market - Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.

888sport is the latest to join sports betting integrity body ESSA - Major operator 888sport is the latest to join sports betting integrity body ESSA with the company adding its customer base and betting market platforms to ESSA’s global anti-fraud alert and reporting system.

First partypoker live event to be held in Russia - Partypoker’s new live tour will kick off in Russia on March 24, 2017 at Sochi Casino and Resort in association with Club Poker Management. Online Day 1’s will start on partypoker on March 12, 2017.

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