18 Oct. ’09 ~ Private Companies Moving Into France Online Casino Market
Private Companies Moving Into France Online Casino Market
The laws are changing in France and that is good news for some companies located outside of the country. The online casino industry may soon be opened up to outside companies after the National Assembly voted in favor of a new law.
The law would allow outside companies to apply for licenses to operate within France. The change deals a blow to current state run online gambling sites, but the competition should help the country financially.
There is one group of companies that could be left out in the cold by the new laws. Companies that have moved their operations to Gibraltar for lower tax rates will be excluded from France. The tax rate in Gibraltar is 1.5%.
The new law is not official yet, and it has received some negative concerns from the Senate. They could vote against the legislation on the table, or they could alter it to deal with their concerns.
Whatever the outcome is, there is clear evidence that French lawmakers are attempting to come into compliance with European Union trade agreements. Italy and Spain have already made strides in their online gambling laws, and the US is also considering changing their existing laws.