William Hill Ceases Operations in RomaniaPublished June 3, 2015 by Amir G
Online gambling giant William Hill announces its withdrawal from the Romanian market for the foreseeable future due to regulatory reasons.
Major UK-based online gambling operator William Hill has announced that it is pulling out of the Romanian market, ceasing to accept any business from customers in the country. Hill's message stated that the operator will withdraw all of its online betting and gaming services for all resident of Romania "for the foreseeable future".
The reason for the pull out was attributed to recent regulatory developments in Romania.
All accounts of Romanian players registered with William Hill were suspended right of yesterday, 2nd June 2015. However, players can check their account and withdraw any outstanding balance that they might have. Hill encourages Romanian players to get in contact with the site's customer service should they have any problems accessing their accounts or withdrawing funds.
New Romanian Gambling Laws
While the exact reason for William Hill's withdrawal from Romania wasn't clarified, the operator claims that the decision has been taken for regulatory reasons beyond its control with very short notice. The Romanian government has been hastily advancing a new online gambling regulation program in hope to improve the Romanian economy which could be the cause for the pull out.
Very High Tax Rates
The the new program places very high tax rates over the heads of operators: It was said to raise the licensing fee from RON (Romanian Leu) 400,000 to 448,000, something that amounts to around $112,000. The new laws were also the main reason that prompted the withdrawal of another major UK gambling operator from the country, Ladbrokes, back in the beginning of the year.
However, finalized information regarding Romania's laws, fees and taxes under the new regulatory reality still remains not a hundred percent clear. Perhaps we will see a return of big operators like Hill and Ladbrokes to the country once the legislative framework is in place, as it is in the country's best interests to have such major operators active within it.