LITHUANIAN LAWMAKERS APPROVE ONLINE-ONLY GAMBLING LICENSES

Lithuanian lawmakers have taken the first steps to allowing online-only gaming licenses in the country. 

Currently, only land-based operators can apply for a remote gambling permit in the Baltic country. However, the Seimas, Lithuania’s legislative body, has now approved the first reading of amendments to the country’s gambling laws, which if passed, would enable operators to apply for an online-only license. 

Under the proposed amendments, operators would need to hold at least €1.2M in capital for a casino gaming license, €289K for a sports betting license, and €144K for a horse racing betting license. Qualifying applicants would also have to pay a €1M fee on receipt of their license, and additional fees of €300K to offer slots, €100K for bingo, and €500K for remote gambling. 

Additionally, the proposed amendments would also introduce new rules for land-based operators, with all new slot halls, bingo halls, and betting shops needing to be approved by local councils. 

Though the first reading was approved with 74 votes in favour, 7 against, and 39 abstentions, a second reading of the proposed amendments will still need to be approved for the changes to become law. 

AYO.NEWS says:

Though this will be welcome news for operators targeting Baltic expansion, the fees are pretty steep for such a small market (Lithuania has a population of under 2.8 million). Marketing gambling products in the country could be a bit of a challenge too, considering that all gambling advertisements and promotions, including special offers, discounts, and bonuses, were made illegal in Lithuania from 1 July 2021.