Designed to remove any ambiguity in current Gambling Law
The Lithuanian Government has submitted a draft gambling law to the European Commission designed to clarify current Gambling Law IX-325 by addressing which entities are permitted to provide services in the market and through what channels.
The draft law covers licencing requirements, advertising restrictions, remote gambling conditions and licencing procedures, commercial poker, betting and totalizators, limited slot machines and table games along with other issues such as:
– Clean sheet requirement — applies to company and persons employed by the company
– A share capital of any licence applicant of at least 4 million litas (approx. US$ 1.6 million)
– Enforcement measures against illegal operators
– Software and technical requirements
– Licence applications available only to public and private limited firms domiciled in the Republic of Lithuania
The draft law in Lithuanian can be accessed here.
Online Casino News Courtesy of Infopowa