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Hungary’s Government Calls for Slot Machine Ban

Last week Hungary’s government called for urgent action against gambling as they claim it eats into people’s income and threatens national security.

Last week Hungary’s government called for urgent action against gambling as they claim it eats into people’s income and threatens national security.

Janos Lazar, the State Secretary, claimed that slot machines are a serious hazard, especially for the poor who spend a significant portion of their income and benefits playing the games.

Lazar said that “Gambling is explicitly dangerous and harmful for society” and went onto say that gambling is against the ideology of his conservative political family.

Lazar said that the ruling majority will rush the necessary legal changes and that a group of representatives from the Fidesz party will submit legislation with a final vote in the coming days.

The urgency is a result of new information on a national security risk from groups within the gambling industry.

The new laws will result in slot machines being recalled from all venues except casinos.

The laws are expected to hit a number of low-range bars and pubs which rely on slot machines for a significant portion of their revenue.

Lazar said that any revenue shortfall to the budget resulting from the new legislation will be compensated for through new regulations and taxes on online gambling.

 

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.

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