iga news

PokerStar exit from Georgia before regulatory changes

PokerStars has notified players and media partners in Georgia, that it will terminate its online gambling services for the CIS nation on 1 March 2022. 

The flagship poker subsidiary of Flutter Entertainment, PokerStars has contacted Georgian players informing them to withdraw all account balances by the end of February.

Closing 2021, Georgian Prime Minister Irakli Garibashvili approved a draft order by the Ministry of Finance to impose a 65-to-70%  tax base on online gambling services and a further demand that a + 25 age restriction be applied across all online gambling activities.

Georgian licensed operators have been informed that phase-1 of reforms (tax and age requirements) will be implemented by Spring 2022.

Licensed incumbents are preparing for radical adjustment of Georgia’s marketplace which to date has been governed by the mandate of the 2011 Law of Georgia on Lotteries and Games of Chances.

Source: https://sbcnews.co.uk/latestnews/2022/02/21/pokerstars-exit-signals-mass-georgia-withdrawal/

Related Posts