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The government is poised to regulate gambling market - Andorra
The Principality of Andorra, a European country between the borders separating Spain from France, is actively working on the way to pass a bill (proposed in 2013) which would regulate gambling activities in the country. The opening of casino and online poker market is listed among them. By passing the draft law, the government expects to enhance its economy. It is worth noting that in Andorra, tourism remains the No.1 engine of local economic growth. Every year, about10 million visitors come to Andorra. And local authorities are betting on the regulation of gambling industry to attract much more tourists. In spite of the big challenge the Principality will have to face with this initiative, Andorra is moving forward cautiously while avoiding emulating the US-gambling-market model.
The Minister of the Presidency, Antoni Riberaygua, has already stated that the opening of gambling market in Andorra will be achieved gradually, without any haste. But it should be clear that visitors should always be attracted by the tourist attractions that the country offers, and not by its gambling establishments, he said. Thats why only one casino would be allowed to operate in Andorra. Antoni also mentioned that no other gambling facility would emerge unless the number of inhabitants exceeds 100,000. Speaking of online poker regulation, the law that will govern the market is not ready yet. The government intends to jointly work alongside one of its neighbors (with regulated market) via a liquidity sharing agreement. It remains to be seen whether Andorra will build an alliance with France or Spain. Any way, the verdict will fall in the second half of 2015.
Source: Oliver JOHNSON
Thursday, 18 December 2014
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