Gibraltar invites comments on proposed Gambling Act replacement7th June 2022 10:12 am GMT
The Gibraltar Government has launched a public consultation on a proposed replacement to the 2005 Gambling Act.
The proposed replacement to the Act aims to establish a modern, innovative and fit for purpose regime for gaming businesses licensed in the jurisdiction and will require licensees to establish a substantive presence in Gibraltar.
The Gibraltar Government has been working on the new Act for a number of years and has already engaged with stakeholders, although progress was stalled by Brexit and the impact of the Covid-19 pandemic.
The government is now inviting feedback on the new Act during a consultation period which closes at the end of August.
“The current Gambling Act has been very durable, but the nature of the industry has changed and the Act needed modernising to ensure that Gibraltar remains as a primary gambling hub for businesses that are increasingly multi-jurisdictional,” said Albert Isola, minister for digital and financial services.
“The B2B supply chain is now more diversified and we needed to establish proportionate control over the supply chain whilst ensuring our B2C operators receive the services they need in a fast moving environment. I am grateful to a small core of advisers for implementing progressive gambling policy through the drafting of the Bill. The shape of the Bill reflects Gibraltar’s wider regulatory approach and we now need to hear from stakeholders and are open to be persuaded on necessary refinements in bespoke areas.”