New law changes regulations for gaming companies in Gibraltar

Gaming giant William Hill doesn’t like the new law that changes regulations for gaming companies licensed in Gibraltar but will not challenge the regulations that are scheduled to take effect on Dec. 1.
But, some Gibraltar-based gambling houses have already warned the British Secretary of State for Culture, Sajid Javid, that it intends to seek a judicial review of new “unlawful” licensing rules.
Those rules, being imposed on the Gambling (Licensing and Advertising) Act 2014, will require Gibraltar companies to apply for a license from the UK Gambling Commission, even though they may be licensed in Gibraltar.
Also, all bets placed online in Britain with a Gibraltar company, will be subject to a 15 pence (point of consumption) tax.
The Gibraltar Betting and Gaming Association has hired lawyers to challenge the Act, which received Royal Assent last month. Opponents fear it may force some Gibraltar operators to move to other locations.
In commenting on the new law, William Hill, which also operates a number of wagering facilities in Nevada, said:
“As the UK’s leading operator, William Hill has chosen not to challenge the Government’s decision to impost dual regulations on the online gambling industry.
“However, our original concerns regarding the distortive effects on the market and the inadequacy of enforcement mechanisms remain. Our message to Government would be to strike the correct balance between overlapping regulation and enforcement by setting an appropriate tax rate which encourages full compliance without damaging businesses.”