UK betting firm sues Israel

GBI was forced to end its operations after the government banned betting and is now seeking a US$57 million compensation.

UK.- GBI, a company from the United Kingdom, is asking Israel US$57 million as compensation for banning betting and and forcing the operator to leave the country. GBI used to operate a government franchise that allowed locals to bet on foreign horse races.

Back in April 2016, Moshe Kahlon, Israel’s Finance Minister, accepted the recommendations of the Commission on improving the effectiveness of the market for legal gambling by announcing a ban on slot machines and the abolition of betting on horse races. Kahlon’s decision became effective in January. As Haaretz said, GBI exposed its case at the Finance Ministry where it was revealed that it won’t accept a ban without a compensation, as officials from the government are ready to negotiate in the upcoming weeks.

“Violation of the agreement and its unilateral cancellation should not be allowed when there has been no change in the conditions, and that a current examination of the public good requires the cancellation of the contract with the company for the purpose of conducting the horse racing.”