New players come to the gambling market of Belarus
Enlabs has completed the acquisition of KDB Games and currently controls one of the gambling establishments in Belarus. In their turn, this enables Enlabs to apply for a license for the right to engage in gambling.
Enlabs (previously Nordic Leisure) owns and manages companies in the gaming sector through two divisions: Online Gambling and Media. The gambling segment includes casino, betting, poker, and bingo, and the media segment has a focus on online gaming. Enlabs is primarily focused on Eastern Europe and emerging markets, with both land-based betting shops and online casinos. At the moment the parties made a $ 140 million deal. Following the transaction, Enlabs will have at its disposal all KDB shares. It should be reminded that the legislation of Belarus began to work on April 1 of this year, and from 2021 the authorities will begin to block illegal operators. To obtain a license giving the right to work in the country, the operator must have at least 2 years’ experience in managing a ground-based gambling facility.
The company must also receive an online platform that is subject to certification and integrate them into the system of the gambling operator. Additionally, a deposit of $ 1 million should be made.
Thus, KDB has a chance to obtain permits for the provision of online gambling services, and if this happens successfully, the company will launch a brand called Optibet. Robert Andersson, executive director of Enlabs, said the company expects to begin work and plans to conduct its first operations in early 2020.
Now, according to analysts, about 10 operators work on the Belarusian market. In particular, most of them are Eastern European operators, which will make up the main backbone of competition.
Belarus is one of the newest regions opening its virtual doors to the online casino industry.
Having started just a year ago, the gambling business of Belarus is developing really rapidly. Every month, one or two classic casinos are registered, and the number of virtual gambling halls amounts to dozens at all.
Not so long ago, a decree was signed according to which gambling in the country was legalized. The main reason for the new decree, as in many other countries, is to improve the regulation of the gaming industry in Belarus.
The decree was carefully drawn up and includes all the necessary licensing details, as well as detailed information on new tax laws. The criteria are incredibly strict, and only online casino operators and operators of classic casinos that meet these criteria can bring their offers to citizens.
One of the very first changes to the rules of gambling was to increase the minimum age of gambling from 18 to 21 years. This applies not only to online gambling but also to classic gambling establishments and is designed to minimize the potential threats and negative consequences of online gambling.
As always, the decree includes a list of conditions that online gambling operators must meet before they are granted a license.
Players trying to register at these legal online casinos will also pass an identity check. Another interesting condition is that the tax authorities will have to receive remote access to online casinos. In addition, each casino will have to join a special payment network, where all cash flow will be controlled by officials of the country.