BUSINESS RETROSPECTIVE OF THE NATIONAL GAMBLING INDUSTRY IN THE YEAR OF COVID
The year that has just ended has been a very complicated one, not only for the national industry of traditional games, but also for many other businesses at national and global level. The impact of the pandemic has been devastating in some places, leading to the bankruptcy of some businesses, an increase in the unemployment rate, liabilities, unpaid installments and all sorts of problems that arise in such a situation. In the...
The industry urgently needs to adjust its tax obligations in line with the economic reality in the field
The disastrous situation faced by the gambling organizers becomes more and more visible: official statistics indicate a decrease in the turnover of the retail sector by more than 50% compared to 2019, and the companies’ revenues are insufficient to cover the payment obligations in advance. Be careful, though! Although on the verge of collapse, the industry does not require tax facilities or preferential support, but only the...
OBLIGATION OF GAMBLING ORGANIZERS TO RECEIVE PRIOR ENDORSEMENT FOR PROMOTIONAL ACTIVITIES – AT WHAT POINT DOES IT BECOME INCIDENT?
Activities meant to promote the marketed goods and services play an important role among the business practices adopted by economic operators. The way these activities are carried out is characterized by creativity and diversity. The obligation to receive prior endorsement from ONJN inevitably makes the organization and implementation of this kind of activities more difficult, at least given the relatively long term the authority can...
New technical norms for verification of gambling machines
by Andrei Cosma, Managing Associate și Teodora Popescu, Associate Romania’s land-based gambling industry was affected in 2020 by unprecedented legislative inflation, facing a whole wave of regulations and operating restrictions. We do not believe that it is necessary to reemphasize these restrictions imposed by the pandemic, since we all want the epidemiological situation to allow us to forget them as soon as possible. These...
Brief considerations on the legislative framework governing the obligation to identify and declare the beneficial owner in the field of combating money laundering and terrorist financing
by Daniel Staicu, Senior Police Officer at Anti-Corruption General Directorate, AML/CFT expert Preamble The entry into force of Law no. 276/2020 for the amendment and completion of the Government Ordinance no. 26/2020 on associations and foundations, offered us the opportunity to make a brief analysis of recent legislative changes, including those contained in Law no. 108/2020 regarding the amendment and completion of Law no. 129/2019...
“The traditional gambling market will experience a substantial contraction that cannot be offset by an increase in online activity”
Liviu Popovici, President of Romanian Bookmakers gives a retrospective of the most important topics addressed to the Romanian gambling industry in 2020 In the context of an extremely difficult year 2020, Romanian Bookmakers was one of the very active associations in representing the interests of the profile companies in front of the state authority. Gambling organizers have faced not only challenges arising from the legislative...
