GVC Holdings exits Czech Republic
Hot on the heels of the announcement that its brand PartyPoker has withdrawn their regulated licence application, GVC Holdings have confirmed that they will not pursue operator licensing in the Czech Republic.
In an announcement to affiliates, the company said that it had withdrawn from the Czech Republic because its current gaming laws are “incompatible with the principles of the European Union”.
The company reaffirmed its support of the Czech government’s objectives of stabilising the online gambling market in the Czech Republic but stated that GVC customers in the republic would now be limited to withdrawing their funds from the company’s platforms.
At present, Czech gambling authorities place a 23% tax on sports betting revenues and a 35% tax on casino slots play. However, over the last year many international operators have called this tax level unfairly punitive, saying that such a regime is unworkable and directly breaches EU standards.
Additionally, individuals wishing to gamble online must sign up at designated public administration centres, legislation which international companies believe unfairly favours local betting operators like Fortuna or Sazka.
Amaya brand PokerStars is the only international casino gaming operator to successfully launch in the Czech regulated market, having obtained its licence in February.
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