Czech Republic grants first international license

pokerstars

The iGaming sector in Czech Republic has come into effect on January 1.

PokerStars became the first international licensed operator under the country’s newest regulation.

Czech Republic.- The iGaming sector in Czech Republic has come into effect on January 1 of this year, and PokerStars has become the first international operator to land a license under the new gaming regulation.

The new regulations allow foreign companies to operate online poker and casino in Czech Republic, a giant step from the 2009 rules that would strongly enforce the laws and alienate operators. Guy Templer, Chief Operating Officer of PokerStars, said: “We are very proud to be the first online casino and poker operator to be awarded a license and support the newly regulated Czech market. This underscores our commitment to supporting local regulations and obtaining local licenses wherever possible.”

The company also applied for a sports betting license, and if the country gives the permission, PokerStars would offer its services through BetStars. The new legislation “Czech Act of 26 May 2016” also bans the services of unauthorised online gaming operators and sets conditions to present projects for the licensing process.

Furthermore, the law established tax rates of 23 percent of gross gaming revenue for sports betting and lotteries and 35 percent for RNG casino games, on top of the standard 19 percent corporate tax rate. Online gaming websites will be under probe for the next three months and will start facing stricter punishments.