Gibraltar has released a draft of its new Gambling Act, which amongst other things, asks for online casino operators to provide proof of “sufficient substantive” local presence in the territory of where they operate.
The Gibraltar Gambling Authority is a big player in international gambling laws and is one of a few options when it comes to regulation for online gambling operations. Its new Gambling Act is bound to have an effect on gambling institutions online around the world.
The new Gambling Act lays out “threshold conditions” that all online gambling operators have to meet in order to gain a licence. Most of them are based on the conduct of the business, the suitability of their owners, their commitment to responsible gambling, prevention of crime, and the location of their offices.
What is the government saying?
In a statement, the government of Gibraltar said, “The core concepts are standards and suitability, and having a sufficient substantive presence in Gibraltar. These are the criteria both for the grant of a licence and, on an ongoing basis, for an own initiative decision by the licensing authority to consider revoking or varying a licence.”
The Gaming Division of the Gibraltar Ministry of Finance said it would “encourage early consideration of the material”.
“The Gambling Division will also be holding workshops and consulting with the Gibraltar Betting and Gaming Association. However, where there is an appetite, meetings with sub-sectors and individual companies can be arranged.
“In due course, the Gambling Division will issue a licensing framework and fees document and codes of practice, including a social responsibility code, for consultation.”
