Gibraltar requires local presence for licensees in new gambling law – European Gaming Industry News

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Gibraltar has published a draft of its new Gambling Act for consultation which introduces five objectives for the regulation of gambling in the country, including the requirement for operators to have a “sufficient substantial presence” on the territory.

A stakeholder consultation on the bill is now open, allowing anyone concerned to give their opinion on the bill. Following the consultation, the bill will be tabled in Parliament.

The Act introduces five objectives for the regulation of gambling in Gibraltar. These are the “preservation of confidence in the gambling markets”, the protection of consumers, in particular vulnerable people, the promotion of “fair and responsible” gambling, the prevention of links between gambling and crime, as well as the public interest and reputation of Gibraltar.

Regulus Partners, a global strategic advisory firm focused on the sports and leisure sectors, noted that the first objective suggests a more holistic approach to the sector, rather than allowing authorities to “compartmentalize policies and regulatory requirements into one”. sole purpose without thinking too much about how it might affect others”.

As for the end goal, Regulus noted that it shows that Gibraltar intends to signal its credibility as a supply point market rather than moving towards ‘dark grey’ operations.

The rules also modify licenses. While the licensing and regulatory bodies will continue to be separate, it introduces a requirement that licensees must have a “sufficient substantial presence” in Gibraltar. The wording of this rule was chosen in order to allow the Minister of Finance – who acts as the licensing authority – flexibility “regarding the location of equipment and other matters”.

Factors entering into this requirement include the “nature, extent, purpose and use” of equipment in Gibraltar, the “number and nature of jobs to be created and maintained” and the amount of tax revenue paid .

The bill also sets out certain “threshold conditions” that all operators must meet to obtain a license. These relate to the conduct of their business, the suitability of their owners, responsible gambling, crime prevention and the location of their offices.

“In other words, the core concepts are standards and suitability, and a sufficient substantial presence in Gibraltar. These are the criteria both for licensing and, on an ongoing basis , for an initiative decision by the licensing authority to consider revoking or amending a license,” the government said.

Much of the Gaming Commissioner’s Supervisory Powers Bill, meanwhile, has been drafted to be similar to Gibraltar’s Financial Services Act, to create “a common regulatory framework, as well as a professional understanding and expertise in regulated economic activities with similar statutory regulations”. Goals”.

The law stems from a report published in March 2016 examining Gibraltar’s licensing and regulatory regime.

A stakeholder consultation on the bill is now open, allowing anyone concerned to give their opinion on the bill. This will last until August 31, but Gibraltar’s finance ministry’s games division said it would “encourage early review of material”.

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