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Copyright Giulio Coraggio 2018

gambling

The Bank of Italy has issued indicators of suspicious money laundering conducts with which both banks dealing with gaming operators and gaming operators themselves shall comply. As previously reported, Italian anti-money laundering law provides specific provisions in relation to the gaming sector and operators are subject to very stringent requirements. In this respect, the new indicators identified by the Bank of Italy shall require the update of the anti-money laundering policy of both banks and operators.   In particular, Italian law provides a very...

There will be No additional taxes on online gaming in Italy according to what declared by the director general of the Italian gambling authority, Mr. Luigi Magistro, at the online gaming conference organized by the European Social and Economic Committee.Mr. Magistro took a very wise position stating that the taxation in the online gaming sector needs to be low because this might be the sole effective measure against the competition from unlicensed operators. A low taxation may as a consequence...

The Italian Gambling Authority, AAMS, awarded yesterday the 12 new AWP/VLT licenses that will last for 9 years from the date of execution.  It is interesting to see that the new license holders include not only the old licensees but also 3 new entrants which shows that the market is still not fully mature and new entrants see opportunities for them. Indeed, the Italian VLT market has less than 3 years of age and the model of business adopted by...