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Italy to Legalize and Regulate Online Gaming - 06-24-09 |
June 24 - AAMS, the Italian regulator of online gaming, is looking to license and regulate more online gambling, with particular aim to license and regulate a wider range of gambling games. This comes as no surprise since Italians spent a record €336.8 million on online gambling in May, a 261% increase compared to May 2008.
Following the earthquake which hit the Abruzzo region, there is an immediate need for funding in order to rebuild. Residents in the region have begun to protest the slow rate of rebuilding, and AAMS hopes that licensing poker cash games as opposed to tournaments, casino games, and more betting options will bring in the much needed funding.
The Head of Remote Gaming at AAMS, Francesco Rodano, spoke at a conference on Abruzzo last week, explaining that measures taken to prevent online gaming in Italy had failed. He promised that the new initiative would help regulate the online gaming business to protect consumers as well as helping to keep problem gamblers out of online casinos and poker rooms. Regulation would also help keep online gambling revenues in the country as opposed to Italians gambling at online gambling sites in other jurisdictions.
Rodano added that the level of taxation could be as high as 20% of gross revenues, a huge jump from the paltry 4.5% tax rate currently in place.
Italians spent €1.5 billion in January through May of 2009, a 186% increase over the same period in 2008. Online poker and skill games led the growth and achieved revenues of nearly €200 million in May 2009 alone.
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