Giorgia Meloni Approves A Mandate To Overhaul Land-Based Gambling Sector. Decision Of Parliament Is Awaited
Given that in mid-March, the party of Italian Prime Minister Giorgia Meloni officially approved a mandate that would rearrange the gambling sector, which, if officially approved by the parliament, where it has been proposed from April 20, would further lead to a radical reconstruction of the land-based gambling sector with the goal of standardizing the sector’s laws and regulations.
Giorgia Meloni
Currently, the draft law is rapidly passing through constitutional ranks of Italy. In addition, the opinion of 12 parliamentary committees is needed before final approval.
The main goal of the mandate, and thus of its sponsors, is to rearrange the gambling sector by implementing constitutionally binding laws and uniform standards that must be implemented in all Italian provinces.
In addition, the government’s plan is also “to progressively concentrate land-based gaming venues (casinos, betting shops, arcades and bingo halls) in safe and controlled venues away from academic, youth and welfare institutions.”
Safer gambling is high on the reform agenda “as businesses must ensure the full protection of problem gamblers.” These measures involve:
- reducing stakes and winnings limits;
- offering mandatory continuous training for concessionaires, dealers, and operators;
- strengthening self-exclusion mechanisms;
- providing minimum characteristics that halls and other gambling venues must possess.
Furthermore, all licensed operators have been warned that the government will also modify gaming taxes, concessionaire commissions, dealer and operator fees and payout percentages.
Despite the effect of the long closure of gaming premises in 2020 and 2021, the Italian market continues to grow and is still considered one of the largest in the Europe. In 2022 alone, GGR increased by 31% to 19.6bn euros, while tax revenues amounted to 11.2bn euros, an increase of 28%. The market’s success is largely due to a regulatory framework that is considered best practice internationally.
However, the gambling sector is an important contributor to the Italian economy, where the government is tasked with ensuring that it is effectively regulated. As such, the Meloni Government wants to use a model based on state concession and police authorization, as it is now, and the Treasury and the provinces will look to eliminate the chaos that exists in the territory with retail establishments.
Although online gaming has grown, the retail sector will continue to play a central role, as post-pandemic business results show.
“The market still has room for growth linked to the development of the online channel, but retail will continue to play a central role,” according to a report issued by Bain&Company titled “Italian Gaming market: solid foundation and compelling value creation opportunities.”
In this regard, the consulting firm noticed that “the market has an incidence of only 30% compared to mature markets such as the United Kingdom and the Nordics, which have a penetration of 70-80%.”
Sursa: news.worldcasinodirectory.com
