Bookmakers to Czech out Alternative Online Casino Markets
By Miriam H
The heads of the Czech Republic’s foremost gambling firms have decided to circumnavigate the country’s restrictions on online gambling for native companies, by registering online betting units in other countries.

For years, the growth of the Czech gambling industry has been impeded by laws that prevent local betting companies from launching online betting arms, while at the same time being powerless to push out foreign online betting firms that operate in the country.

Although the Ministry of Finance is set to submit a new lottery law this year, this does not include provision for online betting, forcing leading companies such as Tipsport and Fortuna to seek out ways create betting branches overseas so that they can eventually take a hold on the Czech online gambling market.

“We’ve repeatedly failed in our request [to the Ministry of Finance] to receive a license for online betting, so we’re forced to consider other options,” said Jana Studničková, spokeswoman for Czech and Slovak private equity firm Penta Investments, the group that controls Fortuna.

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