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After an Override of a Presidential Veto, Slovakia Regulation is Back OnPublished February 18, 2019 by Lee R
Slovakia will implement its ambitious liberalised model afterall, barely putting a dent in the schedule.
Slovakia regulation is back on.
Slovakia’s online gambling liberalization has been restored to its normal schedule after the legislative override of President Andrej Kiska's December 21 veto by a Tuesday vote in the Slovak National Council.
The country’s new gambling regulation Gambling Act was initially approved by legislators December 4th.
Breaking Up Another Monopoly
The new legislation ends the online gambling monopoly previously held by state-owned national lottery operator Tipos, welcoming both private operators and online operators based in other European Union markets for the first time in the Republic's history.
The Tipos monopoly still prevails in the verticals of online lotteries, bingo and raffles while also opening online casino and sports betting products to competition.
Fees for Operation
The fees for individual online product licenses are expected to be €3m a piece for operators or €5m for dual-product permits and valid for 10-years initially accompanied by five-year extension options.
Operators with domains appearing on Slovakia's blacklist calling for those operators to wait an additional 12 months to apply.
The online gambling revenue tax rate will be 22% with an additional 0.7% to finance a new Office for Regulation of Gambling under the Ministry of Finance.
The number of gaming machines would remain limited to 15 per gambling establishment. with machines from one gambling supplier allowed in each gaming hall. Gambling facilities also would he prohibited within 200m of schools or medical facilities, and machines would remain banned in bars and restaurants.
New Overseeing Office
The act also creates a new gambling office within the Ministry of Finance responsible for regulating the gambling sector.
Originally calling for a March 1 opening, it is unclear how the timeline will be affected ahead of approvals due July 1st. Applicants will not able to permitted take wagers until the First of July 2020.
President Kiska's objections included concerns about the self-exclusion register and lack of clarity to the methods for using taxes collected from gambling revenue. Despite the override, a timely regulation implementation should be monitored to protect Slovakia's citizens and ensure equitable and fully effective regulation implementation for this new era in Slovakia's history.