William Hill exits Czech Republic as new laws come into force

William Hill exits Czech Republic as new laws come into forceWilliam Hill has withdrawn its services from the Czech Republic following the introduction of new gambling legislation.

Approved last summer and later signed by President Miloš Zeman, the Gambling Act will bring the country’s gambling laws in line with European Union (EU) regulations.

As of January 1, gambling operators face tighter licensing processes, including requirements such as having an official seat in an EU or European Economic Area country and holding at least €2 million ($2.1 million) in equity.

Other changes include a new tax rate of 23% on gross gaming revenue for sports betting and lotteries, as well as 35% for RNG casino games, on top of a standard 19% corporate tax rate.

In light of the legal changes, William Hill has informed its customers in the country that its services will no longer be available in the Czech market, advising players to withdraw any remaining funds from their accounts.

source : www.igamingbusiness.com

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