01/16/2012 : Ministerial decree has been sent to the European Commission on Italian intentions
Betfair plc appeared in bullish mood Monday, announcing that it was pleased with the news that the Italian government had advised the European Commission of its intention to license and regulate online betting exchange operations.
The EC was informed of the ministerial decree, which could lead to Betfair making application to operate in one of Europe's most attractive gambling markets under its existing Italian online gambling licence.
"The company looks forward to working with the Italian authorities to obtain this authorisation over the coming months," the announcement revealed.
"The Ministerial Decree will now be reviewed by the European Commission, after which it will be returned to the Italian Ministry of Finance for signing following which it will enter into force."