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Legal Focus
JULY 2014
Gambling Law Gibraltar
This month we speak to Steven Caetano, Partner at ISOLAS, about the gambling law in Gibraltar. Steven works closely with Senior Partner Peter Isola on a wide range of commercial and regulatory matters with a strong emphasis in gaming, licensing, regulatory, IP, entertainment and company law.
Can you give me an overview of the legalities of the gambling industry in Gibraltar at the moment?
This is a very wide question: In short, gaming is governed principally by: (1) the provisions of the Gambling Act 2005, (“Act”) (2) the terms and conditions of the relevant licence(s) (usually a remote gaming licence for casino and a remote gaming licence for fixed odds betting) (“Licence”) and (3) all applicable codes of practice (Generic Code, AML Code, Remote Technical Standards, (“Codes”)). All licence holders must comply with the Act, the Licence and the Codes.
Although the global nature of the online market has created vast opportunities, it raises even more challenges for companies. What are the main challenges?
Main challenges seem to be at the moment:
(1) being licensed in the various jurisdictions where a licence is required to access those markets and the burden of submitting to each regulatory/ licensing regime of each market where licensing is available and incurring the cost and specific internal processes to comply with parallel sets of legal and regulatory requirements