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European Nations Push for Gambling Legislation Reforms

Several European countries have been reviewing the terms of existing gambling legislation in what has proved to be a critical period for the industry. Germany has made headlines throughout the month as politicians continue to debate the future of the sector in the region. The latest reports indicate that the province of Schleswig-Holstein is planning to hold additional talks with the remaining fifteen German provinces regarding the new State Gambling Treaty. The region’s recent independent liberalized proposals were granted approval from the European Commission despite the fact that similar bids from remaining states were declined. All decisions relating to the treaty will be postponed until September of this year. The current State Treaty is due to expire on 1 January, 2010.

Germany, Spain and the UK represent just a handful of EU nations seeking to amend existing gambling legislation.

Other nations such as Spain are now also pushing ahead with plans for the legalization of a regulated online gaming market. A recent study suggested that the country could look set to enjoy revenues reaching €137.5 million in the year 2012 alone .

The number of online gamers was shown to have increased by 33% between 2009 and 2009 – amounting to a gaming community consisting of 370,000 customers. Experts have also noted that the industry will lead to a significant boost in employment figures and could pave the way for the creation of up to 120,000 jobs.

UK politicians, meanwhile, are seeking amendments to the 2005 Gambling Act. The discussion hinges on a clause permitting the Gambling Commission to share information with specified sports governing bodies. The revision will see the International Olympic Committee (IOC) added to the official list.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.