27 new licenses for Irish remote casinos
27 new remote casino licenses were awarded by the Irish gambling authority. Off-shore operators will now be able to offer gambling services to Irish players. These licenses have a two year life-span and can be renewed if the operators agree to pay a €10,000 fee.
Ireland’s Tax and Customs Office released the list of licensed operators this past September 1st. The list includes big international names as well as some of the UK’s most prominent gambling sites and bricks-and-mortar casinos.
On August 1st the newly revised gambling regulations took effect and the most important mention is that a 1% tax will have to be paid by all remote casino, bingo, and gaming companies, on their gross gambling income. The rules are slightly different for sports betting companies. Their tax dues will be calculated out of their net income and will represent 15%.
The news is not as hopeful for illegal gambling operations as the country’s government has raised the fines for conducting unlicensed business. Operators found to be offering illegal services to Irish gamblers will be fined a €150,000 fine. Companies repeatedly found to be engaged in illegal operations can be fined up to €300,000.
Predictions see a €25 million per year rise in government income deriving from the new gambling operators.