Experts are confident that operators will adapt to the new gambling legislation of Georgia
Foreign gambling experts agree that Georgian gambling operators will be able to adapt to the new strict local legal requirements. It is reported that many companies were given advance notice of the imminent change in the rules for licensing and operating in the Georgian jurisdiction, so they prepared themselves to ensure painless compliance with the laws of the country.
Back in June 2020, the government adopted a series of amendments to several existing laws, regulating the gambling industry. The changes included regulatory documents on licensing, tax and permit fees. Also, amendments were made to the Administrative Code of Georgia. From January 2021, the updated measures will be phased in.
One of the key changes in the recently adopted Georgian gambling regulations is the requirement for software and online casino providers to operate in the Georgian gambling market under the official license of the regulator.
From now on, foreign operators who wish to work here will be able to obtain a license only if their partners (providers and software developers) have similar permissions from the Georgian regulatory authorities.
Compliance with all local requirements will be checked regularly using a new electronic control system. All operators and suppliers of the gambling business in Georgia will be included in its register. In the event that any company violates the established rules, its activities will be frozen until an appropriate decision to lift sanctions is issued.
Perform software checks and ensure that the internal operation of the gaming platform meets the standards established by law , there will be special companies. They will be able to issue authorization certificates, one of the main documents that give the regulator grounds to issue a license to an operator.
The new amendments include an updated taxation structure. Gambling activities in Georgia are subject to annual and quarterly fees. While the annual fee is fixed and must be paid regularly in equal installments. The quarterly rate depends on the type of gambling and the region in which the casino is located.
Recall that the largest casino operator in Polandannounced the opening of its facilities. 700