Estonia Legalises Online Gambling
Following the damage caused by the recent economic recession, the small Baltic nation of Estonia has moved to legalise online gambling in a bid to garner additional government revenues from tax.
The new liberalisation will enable Estonians to play online via platforms provided by domestic-based operators and now sees the country become the latest European region after, Belgium, Sweden, Italy, Poland and Holland to allow online gambling.
With the Estonian economy expected to drop by around 36 percent as a result of the ongoing fall-out from the recession, the decision should help ease the burden on the public purse and may well become even more lucrative when the market is opened to international operators in order to comply with EU trade regulations before next year.
As a result of the change in legislation, online gaming giants Playtech have since moved to capitalise on the new market by signing a merger with European-based operators Olympic Entertainment Group in order to provide their services in Estonia.
“We are truly glad of this opportunity to start our partnership with Olympic as the leading casino entertainment provider in Central and Eastern Europe,” Mor Weizer, chief executive officer for Playtech announced following the unveiling of the merger.