The Gibraltar Government has decided to circulate a consultation paper to the fifteen licensed online gaming companies hosted on the Rock.
Gibraltar plans to modernize its archaic gambling laws, the Gaming Ordinance was originally enacted in 1958, imposing the requirement for anyone conducting or providing facilities for remote gambling to hold a remote gambling license.
The plan is to create “a statutory licensing and regulatory framework, in the light of Gibraltar\’s status as a leading jurisdiction for online gaming,” said a Government spokesman.
The proposed new law will give the Licensing Authority power to suspend or revoke a license, while inspectors will be given wide powers of entry and search of premises as well as associated powers to obtain information.
The license holder will be required to co-operate in investigations arising out of any illegal acts in connection with remote gambling, which he is called upon to notify to the Gambling Commissioner.
“The Government has always attached and continues to attach considerable importance to the protection of Gibraltar\’s jurisdictional reputation, as well as to providing an operational environment that protects the corporate reputation of gaming companies established here,” said the Chief Minister Peter Caruana.
Calculators
