|Vanuatu: The Government of Vanuatu has announced amendments to its Interactive Gaming legislation, to offer a more competitive licensing regime for online sportsbooks and betting exchanges.|
Effective immediately, Asia Pacific Totalisators Ltd. has been issued with the first Limited (Sports Book) Interactive Gaming License, for a period of 15 years.
“We are pleased with the recent introduction of a new licensing and fee structure in Vanuatu, particularly in light of the bourgeoning person-to-person and fixed odds wagering market,” said Mr Simon Fletcher, Manager, Licensing Review and Audit of Interactive Gaming Consultants Ltd. (IGCL).
“This South Pacific island located only four hours east of Australia, now offers an extremely attractive package for operators seeking a low cost pricing model in a well regulated jurisdiction.”
IGCL has been appointed on behalf of the Government to undertake necessary establishment and management functions for the internet gaming industry in Vanuatu.
Internet gambling sites that offer events wagering now pay a once only application fee of US$35,000 and an annual payment of US$30,000. In addition, operators of fixed odds event wagering pay 0.1% turnover tax, while all other forms of gaming and wagering are taxed at 2.5% of net gaming revenue.
“Our company is looking forward to expanding our pre-existing tote business in Vanuatu, following our successful application for an Interactive Gaming License here,” said Michael Dowd, Director of Asia Pacific Totalisators Ltd.
“We will be offering both current and new customers our full range of pari-mutuel and racing services to the global betting market.”
In addition to this new fee structure, the amended regulations also allow for a 100% tax deduction of bad debt and deductions of bandwidth in excess of US$0.07 per megabyte.
Apart from probity checking, license application reviews will be completed by IGCL within four to six weeks of complete submission of necessary documents.
For further information contact Simon Fletcher at Interactive Gaming Consultants Ltd. Tel: +678 25243 Fax: +678 25635, email email@example.com