June 27 - The
UK regulatory authorities will accept new online gambling license
applications by late 2006. This is according to an announcement by the UK government.
The newly founded UK gambling commission will assume its regulatory
authority in Q3 2005 and the process of implementing the act will start.
The team that is to become the UK Gaming Commission has confirmed that it
will not accept any applications until then.
Online Gambling, or "remote gaming" licences will see the UK licensing
online casino and poker gambling for the first time. This move is seen as a
massive move ahead for the online gambling market.
It is however still unclear how many new licenses will be granted.
There is speculation that some current UK licensees may move their
operations to offshore jurisdictions such as Malta to avoid potentially onerous
taxes.
"There is still the possibility of many operators moving unless there are
some serious tax reforms" one source said.
Tax guidance is expected to be published in November this year.
Visit www.gamblingcommission.co.uk for more information..
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