Casinos will have the opportunity to organize international gambling tournaments – “organization of an international gambling tournament” is being added to the types of licensed activities
Casinos will have the opportunity to organize international gambling tournaments – “organization of an international gambling tournament” is being added to the types of licensed activities.
At the initiative of Georgian Dream MPs, a legislative package has been submitted to Parliament that defines the rules and conditions for organizing international gambling tournaments.
An international gambling tournament is considered a gambling tournament organized by a casino whose prize fund is guaranteed in advance and in which no less than 70 percent of the participants are citizens of a foreign country.
The organization of an international gambling tournament will be permitted both at a facility organized under a casino license and outside it, on the basis of the relevant permit.
According to the draft, if the prize fund of the international gambling tournament exceeds 3 million lari and the club table is used only for holding the said tournament, the organizer is exempted from the gaming business fee established for the club table and is authorized to receive income as a result of holding the tournament.
According to the draft law, the fine for violation of the licensing conditions will be 50,000 lari, while the organization of an international gambling tournament by an unauthorized person will be subject to a fine of 150,000 lari.
An annual licensing fee of 100,000 lari is established for the organization of an international gambling tournament.
The authors and initiators of the legislative package are Georgian Dream MPs: Shota Berekashvili, Tornike Berekashvili, Irakli Mezrishvili and Giorgi Barvenashvili.
