GiG Platform business to be distributed to shareholders

GiG announced the split in February 2023 as part of a strategic review. The review planned for GiG subsidiary Innovation Labs Ltd to be distributed to shareholders. This had the aim of splitting GiG into two publicly listed companies – GiG Media and GiG Platform.

Today (8 April) GiG confirmed that the Platform business – which currently operates as a subsidiary – will be divided between shareholders later in 2024.

Meanwhile, GiG Media will continue to exist under GiG’s operating structure, with GiG continuing to serve as its listed holding company.

GiG said its nomination committee had reviewed and evaluated two separate board formations to optimise business opportunities for both GiG Media and GiG Platform. However, it added that the GiG Platform board would not be elected during the 2024 annual general meeting, but will be elected at another time.

Nomination committee proposes Juroszek

The nomination committee has proposed three new members to GiG’s board of directors. These are Mateusz Juroszek, Nicholas Batram and Cristina Romero de Alba.

Mateusz Juroszek said the family is “constantly” seeking opportunities to advance its shareholding in GiG

Juroszek is the former CEO of Polish sportsbook operator STS, which was acquired by Entain CEE last year for £750m (€847.5m/$946.3m). He is now chairman of STS’ supervisory board, following the appointment of Radim Haluza as CEO in December.

Today, the Juroszek family revealed that it acquired an additional 100,000 shares in GiG on 4 April. This brings the family’s total shares to 19,424,518, or 15.06%.

“As investors, we specialise in the igaming sector and we constantly strive to increase our shares in the most promising entities,” said Juroszek. “Therefore, we are constantly looking for opportunities to increase our shareholding in Gaming Innovation Group.”

“I believe that my experience both as an investor and as a manager of the largest bookmaker in Poland will contribute to even faster and more effective growth of GiG Media, a company dealing with the media and affiliate part of the current Gaming Innovation Group.”

The Juroszek family became the largest shareholders in GiG in July last year following the sale to Entain CEE, holding an 11.08% stake at the time.

Other nominations set to bolster board of directors

Romero de Alba serves as a partner at Loyra, a law firm based in Madrid. She is a member of the board of directors at Omnigame ApS and is also a business partner at Alantra Asset Management.

Batram held the role of group director of M&A and corporate development at Entain for eight years until December 2023. He was also the chair of Ladbrokes Coral Charitable Trust for over five years. He now runs a consulting business.

The nomination committee has also proposed Mikael Riese Harstad and Hesam Yazdi to be re-elected as members of the board.

Harstad has also been nominated to be elected as chairman of GiG’s board of directors. The final decisions on nominations will be made at GiG’s general meeting, which will take place on 22 May 2024.

What does the future hold for GiG Platform?

With GiG Platform being spun off to shareholders, it’s unclear whether it will eventually become an unlisted business. GiG has been contacted for comment.

GiG Platform consists of GiG’s technical online gaming platforms, such as Sportnco, which it acquired in April 2022. It also include GiG’s front-end development technology and managed services.

Richard Carter was named as CEO of GiG Platform in August last year. Previously, Carter was CEO of SBTech, where he oversaw its acquisition by DraftKings. He also led Bragg Gaming Group after departing from SBTech.

Just one month later, GiG announced the early departure of CEO Richard Brown. Brown had originally been expected to leave at the end of 2023.

GiG’s full-year 2023 results revealed that Platform generated €37.8m in revenue, a rise of 33.6% year-on-year. GiG said that this was bolstered by the acquisition of Sportnco.

Belgium report warns of impact of over-regulation on channelisation

On 1 July 2023, Belgium introduced a near total ban on gambling advertising. This was after a consortium of sports teams and gaming operators were defeated in a last-ditch legal bid challenging the royal decree.

The ban faced backlash, with Belgium gambling trade body Bago highlighting the government’s decision to act against the advice of the country’s Gambling Commission when imposing the ban.

Gaming1’s report has now outlined the impact of the royal decree on channelisation towards legal operators in Belgium.

Gaming1 pointed to surveys conducted by Nepa in 2023. The studies found a 6% rise in online players using an illegal website in the past three months following the royal decree, as well as a 4% increase on deposits made on illegal gaming websites.

In its report, Gaming1 highlighted the results of two major studies. The first from the Belgian Gaming Commission (BGC), which has a blacklist of 500 illegal sites to date. The second report from Yield Sec reveals a 4.4-fold increase in illegal operators in 2023, with 2,214 sites identified by Yield Sec.

YIELD SEC HIGHLIGHTS 4.4-FOLD INCREASE IN ILLEGAL OPERATORS IN 2023 WITH 2,214 SITES ACTIVELY TARGETING PLAYERS

Dangers of the illegal market

With a busy sporting summer coming up, Gaming1 stated it was now more important than ever to combat illegal play.

This could prove challenging, however. Gaming1 outlined bigger winnings, ease of access and the possibility of playing under the legal age requirement of 21-years-old as key attractions for the black market.

As a result, players are at risk of prosecution when playing with illegal operators. There is also no safety net or responsible gaming system available to protect them from harm.

Illegal sites are prevalent, too. A survey from IPSOS and the Belgian Gaming Commission (BGC) found that four of the top 10 best-known gaming websites in Belgium are illegal.

Over-regulation seen as an issue

Gaming1’s report highlighted concerns over the impact of perceived over-regulation on channelisation. In recent years, Belgium has made a number of changes to its gambling market with the aim of protecting players.

However, Gaming1 argues these are becoming “increasingly restrictive”, and sometimes counterproductive when it comes to online gambling.

Since 2020, Belgium has banned bonuses and free bets, while also introducing a €200 (£171.48/$216.54) weekly deposit limit. After the royal decree to almost completely ban advertising came in during 2023, the age limit was then raised for sports betting to 21, a change which is due to come into effect in September of this year.

Gaming1 states these alterations are failing to properly address the problem, with a strategy of stigmatisation used ahead of a scientific approach.

Gaming1 argues that these changes do not address the problem properly. In the company’s view, regulation seems to be based on stigmatising the sector, rather than on a scientific approach. The industry employs approximately 16,000 people in Belgium. BGC data from 2022 also revealed the sector pays around €1.17bn a year in tax into the economy.

Gaming1 calls for nuanced approach

Rather than a strategy it perceives as stigmatisation of the gambling industry, Gaming1 is instead calling for a more considered approach to counter the black market.

The operator pointed to self-restriction solutions, self-assessment tests and personalised messages depending on the risk level as three of the potential tactics that should be better implemented.

Gaming1 also outlined the need to strike the “right balance” between regulation and the creation of a competitive sector. To do this, Gaming1 states the importance of establishing better dialogue between the relevant parties, such as lawmakers and regulators.

Entain’s Grainne Hurst to be new Betting and Gaming Council CEO

Hurst joins the BGC from her previous role at Entain. The appointment comes as part of a wider restructuring of the BGC’s senior leadership.

It follows January’s announcement that Brigid Simmonds will step down as the BGC’s chair. At the time, it was announced that Michael Dugher would serve as CEO “until a replacement is found”.

Current BGC CEO Michael Dugher will now move to become chair, replacing outgoing chair Brigid Simmonds OBE.

Simmonds has been the BGC chair since its inception in 2019, overseeing the representation of the UK’s gambling industry.

Hurst to take the BGC to the “next level”

The BGC’s outgoing CEO Michael Dugher sees the announcement as “excellent news for both the BGC and its members”.

“Grainne’s wealth of experience, impressive leadership qualities, formidable campaigning skills and acumen will be essential in working with all of our members to take the BGC to the next level,” he said.

“She won a very tough, external recruitment process and clearly demonstrated that she has not only mission critical knowledge and experience in the regulated industry – both online and in the land based sector – but also a strong vision for continued change and improvement at the Betting and Gaming Council.”

Hurst has held a number of senior roles in the land-based and online sectors. Most notably, she has served almost a decade with Entain. During this time, Hurst led the company’s activities and relationships with the government and the public sector. She was also instrumental in leading the company’s rebrand from GVC to Entain.

Hurst is also a board member of the Entain Foundation. This has seen her both create and deliver Entain’s multi-award winning global safer gambling strategy, Changing for the Bettor.

She has also served as a special advisor to the UK government. Hurst studied at King’s College London and Queen Mary University in London.

Among her many career achievements, she also “brings a passion for increasing the number of high profile women in the industry”. This has seen Hurst establish the international arm of Global Gaming Women. The charity now has an extensive presence across the UK, Europe, Australia and New Zealand.

Changes at the Betting and Gaming Council

Brigid Simmonds OBE will step down from the BGC as chair on 20 April, with Dugher now replacing her as chair.

“I am delighted to be joining the BGC at such a crucial time for its members and the millions of customers they serve,” said Hurst. “I am very grateful to Michael Dugher for everything he has done in establishing the BGC and I look forward to working closely with him to move it forward.

“My focus will always be on ensuring that we have a well regulated industry which protects customers and looks after their interests.

“The betting industry in the UK has world leading businesses and iconic brands and I will work hard to ensure they remain so. There is much to be done and I look forward to getting started.”

The appointment was confirmed with members this week following a rigorous external recruitment process.

The appointment was also endorsed by Ian Proctor, executive chairman of Flutter UK&I.

“The BGC’s role has never been as important as we move into a new era where the government and Gambling Commission work with industry to implement the recommendations from the white paper from a year ago,” he said.

“Grainne’s appointment as chief executive is a vital step in ensuring we engage constructively at every level while championing those who work in the industry and offering the best service possible to our customers.”

2024 set to be a crucial year

As per its official communication, the BGC represents over 90 per cent of the regulated betting and gaming industry in the UK. In total its members support 110,000 jobs. They also generate £4.2bn in tax and contribute £7.1bn to the economy.

The implementation of the UK’s white paper will no doubt prove to be a key part of Hurst’s new role. Released in April 2023, the white paper outlined how gambling should be regulated in the UK. The BGC broadly backed the government’s gambling white paper at the time, particularly in relation to casino reform. The white paper also included proposals on affordability checks, sports betting and land-based casinos.

However, in November 2023 the BGC accused the UK government of launching a “stealth tax raid” on casinos. It is estimated that it could cost the industry £5m (€5.8m/$6.4m) per year.

It also noted that casinos contribute £300m annually in taxes. Across the entire economy, the sector provides an estimated £800m a year in gross value. Dugher himself has stated that the “stealth tax” could slow recovery and hamper future growth.

Episode 29: Maryland and the question of cannibalisation

Mickey Ferri and Laura O’Laughlin join Brendan Bussmann and Brandt Iden to discuss the recent study showing online casino actually expands the market, rather than eating away at the land-based share. 

The case against cannibalisation in Maryland

Essentially mobile gaming is a very different product to in-person gaming, Ferri and O’Laughlin tell the World Series of Politics. That means it’s not likely to grow at the expense of casinos and instead complements land-based revenue – which may even modestly increase. 

For Maryland, there’s an added incentive. Currently 30% of those surveyed in the state are travelling out of state for a casino visit. Of this number, 45% of Maryland players are considering igaming while out of town – that’s a huge opportunity for growth. 

Listen to the World Series of Politics on Apple Podcasts

Maryland igaming: What’s at stake?

It’s the final day before the Maryland General Assembly adjourns today (8 April) and while the igaming bill HB1319 passed the house in March, it remains caught up in the senate budget and taxation committee.

As Jill Dorson reports, that suggests it doesn’t have enough votes to progress. However Delegate Vanessa Attabeary, the bill’s sponsor, has attacked fears of cannibalisation. She has also warned the bill is crucial in replacing offshore igaming with a legal alternative, saying it is “incumbent on [lawmakers] to capture that market and regulate it”.

Spreadex-Sporting Index merger faces questions from Markets Authority

Spreadex acquired the B2C arm of Sporting Index from Sporting Group Holding last year. Both companies provide online fixed odds betting and sports spread betting to customers based in the UK. Spreadex also operates across financial spread betting and casino betting. 

However, concerns were raised over the merger shortly after completion in terms of how it could reduce market competition. In response to this the CMA announced an investigation, launching the probe in February this year.

After reviewing feedback from a period of comment within the Phase 1 investigation, the CMA said it may be the case the merger results in a substantial lessening of competition within a UK market or markets.

Has the merger created a monopoly? 

In a statement confirming the ruling, the CMA said the Phase 1 investigation focused on how Spreadex and Sporting Index are the only licensed sports spread betting providers in the UK. As such, the merger may have created a monopoly by removing the only other licensed provider.

Both Spreadex and Sporting Index argued they would be constrained by fixed-odds betting providers after the merger. However, the CMA said it has not received sufficient evidence to support this.  

“The CMA believes the merger could substantially lessen competition in the supply of licensed online sports spread betting services in the UK,” the CMA said. “Without a competitor, the incentive for Spreadex to offer competitive odds for customers could be lost.”

What next for Spreadex?

The ruling will come as a blow for the enlarged business, but the case is not yet closed. 

Both Spreadex and Sporting Index now have five working days from 4 April to respond with “meaningful solutions”. Should they not satisfy such demands, the deal will be referred to a Phase 2 investigation.

Naomi Burgoyne, Phase 1 decision maker for the case at the CMA, said a Phase 2 probe is more in-depth and could flag further concerns. 

“We believe that this deal could remove competition for sports spread betting services and give Spreadex a monopoly in this market,” explained Burgoyne. “It is important that customers can rely on competition in the market to keep odds competitive.”

History of regulatory issues for Spreadex

This is not the first time Spreadex has faced regulatory issues in the UK. In August 2022, the Gambling Commission ordered Spreadex to pay £1.4m (€1.6m/$1.8m) after it was ruled to have breached social responsibility and anti-money laundering (AML) regulations.

Between January 2020 and May 2021, Spreadex breached the Licence Conditions and Codes of Practice (LCCP). It also failed to comply with the Social Responsibility Code.

Social responsibility failings identified included Spreadex having financial alerts in place that were ineffective. It was also found to have allowed customers to lose significant amounts over a short period of time.

US federal government asks for second extension in Florida wagering case

In the filing, Prelogar writes that the “extension is necessary because the attorneys with principal responsibility for final preparation of the government’s response have been heavily engaged with the press of other matters before the court.”

Prelogar is requesting an extension in the Florida case until 12 May and notes the attorneys for West Flagler (WFA) do not object to the request. The Department of Justice, on behalf of the US Department of the Interior, was initially ordered to reply to WFA’s filing by 12 February, but filed for an extension until 12 April that SCOTUS granted.

WFA filed its writ of certiorari on 8 February, about seven months after a lower court overturned a previous ruling that allowed the Seminole tribe to go live with its Hard Rock Bet platform in Florida.

At issue in federal court is whether or not the DoI secretary, Deb Haaland, was within her powers to approve the 2021 compact struck between the state of Florida and the Seminoles. The compact allows for bets placed anywhere in the state of Florida to be considered to be on tribal lands if they flow through a tribal server.

Odds of case being accepted are low

Florida’s Supreme Court denied to hear a related case last month. In that case, WFA sued Governor Ron DeSantis and the legislature, saying they went beyond their power to approve the compact. In that case, WFA also questioned whether or not the compact is legal since voters passed Amendment 3 in 2018, which requires that any expansion of gambling go to the voters.

The US Supreme Court accepts between 100 and 150 of the approximately 7,000 cases filed with it annually. Some stakeholders think SCOTUS could consider this case because it relates to tribal sovereignty, but the acceptance of any case is inherently a long shot.

From here, SCOTUS will rule on the request for an extension in the Florida case and, once the DOI files its response, the court will begin to consider whether or not it will hear the case.

The Seminoles launched Hard Rock Bet on 7 November 2023.

Cloudflare to assist Dutch gambling regulator in tackling illegal providers

Under the terms of the agreement, Cloudflare will provide information to help identify those offering unlicensed services in the Netherlands. The Kansspelautoriteit Gaming Authority (KSA) can now actively question Cloudflare in its investigations to provide more information about the hosting parties behind illegal gambling providers.

“The information provided by Cloudflare can therefore be useful for the KSA’s investigations, with the aim of putting an end to the illegal supply,” the KSA said in a statement.

How Cloudflare will assist

The partnership comes after the KSA imposed and then withdrew an order against Cloudflare to cease providing services to two illegal gambling services providers.

Cloudflare was initially told to stop assisting the illegal affiliate websites NederlandsCasinos.net and OnlineCasinosSpelen.com following a KSA investigation. However, deliberations between the two revealed that Cloudflare could not unilaterally block the two operators.

KSA added: “It became clear that Cloudflare itself cannot take measures to end the violation, but can provide information that can help. That is why the binding instructions have been withdrawn and agreements have been made to combat illegal supply.

“It is prohibited to offer games of chance in the Netherlands without a licence from the KSA. Promoting illegal gambling is also not permitted under the Gambling Act.

“To combat illegal offers, the KSA takes various measures, for example erecting barriers at payment providers or internet providers. By ensuring that these intermediaries no longer offer their services to illegal providers, illegal offerings are made more difficult or possibly even stopped altogether.”

Dutch market’s channelisation success

Earlier this week, KSA’s sixth monitoring report on Dutch online gambling revealed that some 90% of players only gamble via legal websites. This is way above the channelisation target of 80%.

The reports showed gross gaming revenue (GGR) of €1.39bn for the year to 31 December 2023. This was up 28% compared to the same period in 2022. However, in the last six months the GGR increased just slightly by 1% compared to the first half of the year.

In March 2024, KSA issued its largest ever fine of €19.6m (£16.8m/$21.2m) to Gammix Limited for offering games without a licence.

In June 2022, Gammix was ordered to leave the Dutch market or risk paying €1.4m in weekly fines. The following March, the KSA ordered Gammix to pay €4.4m for not complying with an order to stop operating in the Netherlands.

This latest fine is related to these two previous orders, with the KSA noting that Gammix “has not taken any measures to ban players from the Netherlands”.

Fanatics sportsbook goes live in Arizona

Fanatics’ online sportsbook service is available in 18 US states after taking its first wagers in Arizona. The launch came on the same day that Fanatics concluded its $225m (£178.2m/€207.0m) acquisition of PointsBet’s US operations.

The Arizona partnership also includes plans to open a Fanatics Sportsbook retail location inside the Mazatzal Hotel & Casino this summer. The resort is owned and operated by the Tonto Apache.

Ari Borod, FBG’s chief business officer, said: “We are thrilled to partner with the Tonto Apache tribe and Mazatzal Hotel & Casino to bring the Fanatics Sportsbook to Arizona.

“Arizona is a state with tons of options for sports fans, from baseball, to hockey, to golf, to football, to racing, making it the ideal destination for the most rewarding online sportsbook.”

Fanatics joins the big brands in Arizona

Fanatics joins the other major sportsbook providers who are already live in the rapidly expanding Arizona market.

Arizona set a new sports betting revenue record for the second consecutive month in January. Operators in the state generated a total of $69.3m.

The January figure was 51.6% ahead of $45.7m in the same month last year. It was also 4.8% clear of the previous Arizona monthly record of $66.1m in December.

FanDuel remains the online market leader in Arizona with gross revenue of $31.2m from $228.2m in bets.

DraftKings and partner Crown Gaming again ranked second with $22.5m, despite having a larger online handle of $258.1m.

Fanatics’ Arizona launch comes just weeks after it obtained its Arizona Department of Gaming (ADOG) licence in partnership with the Tonto Apache.

Tonto Apache chairman Calvin Johnson said: “The tribe’s partnering with FBG, a national leader in the sports betting space, will allow the tribe to provide for the general welfare of our tribal members but will also benefit all Arizona citizens.”

Michigan warns illegal operators after gaming machine crackdown

The Michigan Gaming Control Board (MGCB) and state authorities issued some 64 businesses with orders to cease illegal gambling in 2023. This led to 167 illegal gambling machines being removed or being taken out of operation.

As a result of MGCB investigations, and in partnership with the Michigan attorney-general’s office, nine individuals received criminal gambling convictions. In addition, 24 individuals were arraigned on illegal gambling charges.

Michigan’s campaign for gambling integrity

MGCB said the actions were part of a concerted effort to uphold the integrity of the state’s gaming industry and protect consumers. Michigan law prohibits any kind of gambling unless specifically authorised under state law. Gambling machines are only allowed within licensed casinos.

“Thanks to the vigilant supervision of the MGCB, last year agency personnel were able to target and disrupt several instances of illegal gambling activities that undermined the integrity of our legitimate, regulated gaming industry,” MGCB executive director Henry Williams said.

“With a commitment to maintaining fairness, transparency and public trust, these proactive efforts were undertaken to ensure safe, regulated gambling environments.”  

MGCB added that these machines have the potential to undermine the investments made by legitimate gaming establishments.

“Moreover, these unlawful operations often lack the necessary consumer safeguards that licensed and regulated establishments provide, leaving vulnerable individuals susceptible to unfair practices,” MGCB added in a statement.

MGCB’s gaming machine junkyard photo op

Gaming machines are destroyed at a Michigan junkyard

During 2023, MGCB issued a visual illustration of its crackdown by publishing photos of machines being destroyed at a junkyard.

As part of its work to halt illegal gaming, the MGCB and the Liquor Control Commission began a joint effort in 2022 to educate the public and business owners about illegal use of gambling machines. As a result of investigations from 2015 through July 2023, a total of 1,195 illegal machines and $470,402 were seized.

Speaking last year Michigan’s attorney-general, Dana Nessel, said: “The machines destroyed by the MGCB are the tools of criminals, cheating their neighbours of their hard-earned money as well as the state out of gaming revenues that support our schools.

“Illegal gaming operations are a danger to their communities, typically becoming local hotspots for other crimes and violence. We will continue to coordinate with the Michigan Gaming Control Board to ensure our state’s gambling laws are strictly enforced.”

Detroit casinos down in February

The three Detroit casinos reported $104.6m in monthly aggregate revenue (AGR) for February 2024. Some $104.8m was generated from table games and slots, and negative $124,853 from retail sports betting.

February 2024 table games and slot revenue decreased 0.2% when compared to February 2023 revenue. February’s monthly revenue was 11.6% higher than January 2024.

The Detroit casinos reported $13.2m in total retail sports betting handle. Total gross receipts were negative $120,142 for the month of February. Retail sports betting qualified adjusted gross receipts (QAGR) were down by $583,605 when compared to the same month last year.

Michigan online gambling operators saw an overall dip in receipts and revenue in February. The combined $218.5m in icasino gross receipts and sports betting handle was down 4.8% compared to January. The $188m taken in by online casino was the highest in state history. This broke the January record of $181.9m in gross receipts.

Last July, MGCB launched a new multi-media campaign to encourage responsible gambling among consumers. Developed in partnership with King Media, “Don’t Regret the Bet” promoted safer gambling with licensed operators in Michigan. The campaign included broadcast TV and radio, digital billboard and social media advertising.

888Sport, William Hill, Bet365 and Betsson blacklisted by Dominican Republic

The announcement comes at the same time that the Dominican Republic has issued Resolution 136-2024. The resolution, signed into law on 26 March 2024, provides a new regulated framework for online gambling.

The new set of measures will be overseen by the Dirección de Casinos y Juegos de Azar (DCJA). The directorate is managed by the Ministerio de Hacienda (Ministry of Finance). As a result, it is responsible for issuing licences to online casinos and lotteries.

With a new licensing framework in place, operators who do not have a licence will no longer be authorised to operate in the country.

This is in accordance with Law (Ley) 155-17 – “Against Money Laundering and the Financing of Terrorism”.

Who has been blacklisted?

The DCJA, which is tasked with the supervision of games of chance in the Dominican Republic, has now issued a list of 41 operators that are barred from offering services.

These include Betway, Betsson, Interwetten, Betfair Colombia, Bet365, Mr Green Casino, 888Sport and William Hill.

In releasing its statement, the DCJA announced that: “We emphasise the importance of playing and betting responsibly and legally to guarantee a safe and fair experience.

“Therefore, we recommend always verifying the operator’s authorisation through official channels and avoiding participating in unregulated activities.”

Online gambling in the Dominican Republic

Online gambling was initially regulated in the Dominican Republic in 2006, with the first licence issued in 2011.

Notably, Amaya – PokerStars’ owner at the time – was the first to be issued with a licence. The company is better known as The Stars Group, which it rebranded to in 2017. Amaya was acquired by Flutter Entertainment in 2019.

Despite two laws, Ley 139-11 and Ley 494-06, forming the framework for online gambling in the Dominican Republic, Amaya has been the only owner of a licence to date. This meant that the law existed more in theory than practice.

As PokerStars is now featured in the DCJA’s blacklist – it can be assumed that the licence Amaya previously acquired has now expired.

Thanks to Resolution 136-2024, the Dominican Republic is now expected to bring about a more comprehensive framework for regulation. This will make the regulated market more competitive and, it would be assumed, boost state revenue with new entrants.

New Dominican Republic gambling regulation

Under the new law, each licence issued will be valid for five years and is non-transferable for the first three years.

The cost of of a casino licence is equal to $346,000 (£275,000/320,600). For sports betting, licences will cost $260,000 (£205,400/239,500).

A third licence for “other applications” is also available. While this has not been specified, it is likely to be for fantasy sports, poker and bingo verticals. This will cost $170,000 (£134,300/156,600).

The announcement follows the final initiation of the regulatory process on 28 February 2024. This was in the form of official letter of recommendation, DM-051-2024.

The process follows multiple iterations between June 2019 and March 2024. Totaling 36 pages, seven chapters and 36 articles, Resolution 136-2024 has now been signed into law by the minister of finance, Jose Manuel Vicente.

While taxation has not been listed in the resolution, the previous law (Ley 139-11) set a gross gaming revenue rate of 29% for land-based casinos. It is likely that this will be the same for online.

Foreign operators will be required to register the company in the country’s Commercial Register at the chamber of commerce and production (Registro mercantil).

Brands will also be required to register with the office of National Contributions (RNC) and General Directorate of National Tax (DGII).

All operators must also register a web domain of ‘.do’ for the Dominican Republic. All servers must also be hosted in the country. Operators are also required to go live within six months of the licence being issued.