New license in the UAE, new rules in Georgia and Italy, and a bankruptcy in Curaçao

The Georgian parliament has passed new tax rates, the UAE has issued its first commercial gambling license to Wynn Resorts, Italy has introduced new age verification rules, and a major master license holder has filed for bankruptcy in Curaçao.

The Parliament of Georgia reduces tax rates for online gambling operators

The Parliament of Georgia has approved tax changes that will create more favorable conditions for online gambling operators targeting foreign customers. The new rules will come into force on December 1 and are designed to attract foreign investment in the country's gambling industry.

The reduced tax burden will foster a competitive environment for operators seeking to compete with jurisdictions such as Malta and Curaçao. The tax on gross gaming revenue (GGR) for land-based gaming halls will be reduced from 15% to 5% for revenue from foreign players. Slot machine sites and online casinos with an international audience will also benefit from a reduced rate of 5%.

The tax rate for online sportsbook operators is set at 7% for bets placed by domestic players and 5% for bets from foreign customers.

UAE issues its first commercial gambling license

The UAE’s General Commercial Gaming Regulatory Authority (GCGRA) has granted the country’s inaugural commercial gaming license to Wynn Resorts. The license pertains to the development of Wynn Al Marjan Island Resort, which is being constructed in the emirate of Ras Al Khaimah (RAK).

This joint venture between Wynn Resorts, Marjan, and RAK Hospitality is set to open in 2027. The planned development will include a gaming hall and over 1,000 hotel rooms, and will serve to enhance tourism and business in RAK, which is still relatively lesser-known compared to other UAE regions.

Al Marjan Island is a 15-minute drive from Ras Al Khaimah International Airport and 45 minutes from Dubai International Airport. It is approximately 100 km from Dubai, the largest city in the UAE.

Italy introduces new age verification requirements for online casino players

Italian regulator AGCOM has announced the implementation of mandatory age verification for access to online gambling and adult content.

In accordance with the new regulations, users will be obliged to undergo age verification prior to viewing content related to gambling, pornography, and the adult sections of social media platforms. All Italian media outlets are required to utilize the State System of Digital Identification (SPID) in order to verify the age of Italian nationals and residents.

The measures are part of an effort to reform Italy's iGaming market. Other measures include the issuance of new licenses valued at €7 million over nine years and a prohibition on skin gambling sites. The new regulations are to be implemented at the end of the year, following approval by the European Commission.

Master license holder declared bankrupt in Curaçao

On October 18, 2024, the Curaçao Court of First Instance declared Cyberluck N.V., a prominent player in the online gambling industry, bankrupt. The company was unable to fulfill its financial obligations, resulting in unpaid debts and prompting the bankruptcy court to make this decision.

The loss of licenses and operational support from Cyberluck could have a significant impact on the numerous platforms that relied on its services. However, given the end of the master license system, it’s hard to imagine how Cyberluck would have survived in the new situation in Curaçao.

Cyberluck license holders are seeking alternative solutions to maintain their operations, as the lack of new licenses poses a significant business risk.