Gibraltar Not Content With UK Gambling Licensing Regime
Gibraltar-based operators who want to buy casino games said that the UK gambling regulatory framework could threaten the safety of online players. As of this year, UK lawmakers have decided to introduce a place-of-consumption tax, which is considered unlawful and against EU principles by Gibraltar operators.
Under the current UK gaming law, gambling operators who buy casino games would have to pay a tax on gross gambling profits generated from UK customers, no matter where in the world the operators aee located. More than that, these operators would also have to be licensed in the UK, regardless of their local gambling regulatory regimes.
The Gibraltar Betting and Gaming Association (GBGA) explained that the new law would not stimulate the gaming industry of Great Britain, but would instead drive players towards unregulated online gambling sites. Thus, GBGA representatives said that the recent changes in the UK gaming regime would only be in the benefit of operators who want to avoid proper regulation.
The GBGA has even declared that it would apply for judicial review of new gambling regulatory regime, which is considered discriminatory towards operators who buy casino games and start online gaming sites, regardless of their local regulatory frameworks.
According to these declarations, the GBGA wants to point out that the new gambling law is contrary to the UK lawmakers’ assurances that operators who buy casino games in trusted jurisdictions would be subject to a lighter approach.
GBGA representatives have proposed a solution that would imply setting a regime under which operators would still comply with their local gaming law, but their national regulators would communicate with the UK Gambling Commission on a formal basis. The UK government later declared that it is not in favor of accepting this proposal. Even so, the UK government and the Gambling Commission will give their response regarding Gibraltar’s other requests until July 2.
BY CASINOWEBSCRIPTS PUBLISHED 23 June 2014