News

2021.10.14 17:08

Lithuania passes new gambling laws, seeks to break up ‘monopoly’

BNS2021.10.14 17:08

On Thursday, the Lithuanian parliament passed amendments to the Gaming Law. The new reforms include a one-off license fee and differentiated share capital requirements.

The Gaming Control Authority will only issue or renew an operating license if the company has the approval of the respective municipal council.

Mykolas Majauskas, the chairman of the parliament’s Committee on Budget and Finances, said the new regulations would eliminate conditions that distort competition on the market, also generating eight million euros in extra state budget revenue.

The state will “break apart the current monopoly”, he said.

The amendments set a license fee of 0.5 million euros for remote gambling, 0.3 million euros for casinos, table games, and category A and B gaming machines, as well as 0.1 million euros for bingo and betting shops. To receive a license for all of these activities, companies will have to pay one million euros as of July 2022.

Operators of remote gambling or category A gaming machines will be required to have an authorised share capital of at least 1.158 million euros. The minimum capital requirement will be 289,000 euros for remote betting, category B machine, and bingo operators, and 144,000 euros for online horse-racing betting operators.

Currently, organisers of all types of remote gambling are required to have a capital of at least 1.158 million euros.

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