A law providing the award of 2000 Italian betting shop licenses is expected to be approved in the next days and the decree regulating the offering of bets on virtual events in Italy obtained the approval from the European Commission.
Following the decision of the European Court of Justice in Costa Cifone case, in order to cure the issues raised by the ECJ, the Parliament has decided (if the proposal will be eventually approved) to set up a call for tenders in relation to the award of 2,000 new betting shop licenses by the 31st of June 2012. Such licenses will be valid up to 31 June 2016 and the minimum price for their award will be € 11,000.
The purpose of this procedure is to convert the current betting shops operating with a foreign license into legally Italian licensed shops, but obviously also represents an opportunity for new entrants in the market. Likewise, the decree regarding the offering of bets on virtual events that was under the review of the European Commission has been approved and therefore the procedure for its coming into force is now expected to start. Meanwhile, following an opinion from Spain, the approval of the decree on betting exchanges has been postponed to 18 May 2012.
It would be interesting to see how new opportunities are coming up in the Italian market; if you would like to know more about it, feel free to contact me, Giulio Coraggio (email@example.com).