New Zealand to Launch Online Casino Licensing by 2026
The New Zealand government has announced a major change in its approach to online gambling. By 2026, it plans to create a new framework to introduce the New Zealand gaming license for online casinos. This framework aims to regulate the market and create a safer environment for players. As a result, this shift seeks to address issues in the current unregulated sector.
Why Introduce the New Zealand Gaming License?
The new framework will regulate online casinos by issuing a limited number of New Zealand gaming licenses through an auction process. To qualify, operators must meet strict standards. Moreover, the government’s goal is to ensure a safer market while reducing gambling-related harm. It will also set age restrictions (players must be at least 18) and enforce strict advertising limits. Therefore, casino promotions will stay separate from other gambling products.
Focus on Safety and Revenue
The government not only aims to reduce harm but also to boost tax revenue. Currently, offshore operators do not contribute to New Zealand’s taxes. Consequently, this framework aims to keep more funds within the country.
Industry Support and Reactions
Major industry players like SkyCity Entertainment have shown strong support for the New Zealand gaming license plan. For example, SkyCity’s CEO welcomed the decision, emphasizing the importance of keeping revenue within New Zealand. He noted that limiting operators and imposing clear guidelines will create a safer environment.
Public Consultation and Next Steps
Furthermore, the government will gather public feedback through a select committee process. This will help shape the final regulations and balance market growth with safety.
What’s Next?
In summary, this new licensing framework and the introduction of the New Zealand gaming license mark a significant change for the country’s gambling industry. The government aims to regulate the market, not increase gambling activity. Most importantly, the focus is on creating a safer, more regulated environment for all players.
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