Compliance Updates

Georgia invites bids for controlling gambling business in the country

Published

7 years ago

October 2, 2018

Niji Narayan

MONEYVAL: Georgia should increase the use of financial intelligence in casino industry

Image Source: videoblocks.com

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In an interesting new development, the Revenue Service of the Ministry of Finance of Georgia has released a tender document on its official website, which basically invited bidders for a project that offers a mechanism for controlling gambling business in the country.

“To date, the Revenue Service has no mechanism to establish and carry out a full control over the payment of taxes and the fulfillment of the gambling license conditions, because it does not have the required information,” the document says.

The successful must develop a project that should provide the Revenue Service information on revenues and deductions from each gaming device, the percentage of the winning, the history of transactions in case of electronic gambling operations, and history of filled in tickets in case of totes.

The winning tender is likely to be announced on December 1.

Georgia boasts of about 6.4 thousand gambling devices in Georgia, seven online casino websites and 90 betting houses.

Source: E-PLAY Online

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Niji Narayan

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.