Italy Pushes Forward On Tougher Gambling Restrictions

Italian gambling incumbents are set to make further changes to the industry as the new 5 Star-DP coalition government releases the latest ‘Budget Law’ draft decree.

Following the former Lega-5 Star coalition government’s gambling ads ban of 2019, Italy will push to establish new payment processing laws and AML register for operators in 2020.

New fiscal provisions added in the Budget Law will result in the government prohibiting Italian banks from processing any kind of transaction associated with an unauthorised gambling operator.

5 Star-DP, announcing its aim to eliminate all types of gambling fraud, would help its new laws with penalties ranging from at least € 300,000 to € 1,3 million on banks considered to have facilitated unlicensed transactions.

However, the new coalition government would allow all incumbents to sign up for a new national registry managed by the Customs and Monopolies Agency (ADM) of Italy.

The government insists that its register has been set up to tackle tax evasion and fight organised crime, after the damaging findings of the Glassia inquiry by the Italian Police.

5 Star-DP notes that the ADM should improve its control over the public and retail gaming sectors as a gambling regulator.

In addition, Italian news sources say that 5 Star-DP might seek to add additional limitations and control on private equity funds and shareholders in gambling firms.

The new red / yellow government imposes further restrictions and controls on the equity funds owned by the gaming companies, according to another article of the draft.

Certain draft gambling provisions see 5 Star-DP extend wagering and bingo approved concessions by one year (up to 2020) at a price of € 6,000 per venue and € 3,500 per wagering point.