Parliament approves bill regulating international gambling tournaments at first reading

The Georgian Parliament has approved at first reading a bill amending the Law on Lotteries, Gambling and Other Prize Games, along with related legislative amendments, the Parliament reported.

According to Shota Berekashvili, Chair of the Parliament’s Economic Policy Committee and one of the bill’s authors, the legislation concerns the regulation of international gambling tournaments and establishes rules for organizing such events.

Under the bill, an international gambling tournament is defined as a game organized by a permit holder authorized to operate a casino, in which at least 70% of participants are foreign nationals.

The bill also provides that an organizer will be exempt from the gambling business fee if it uses a gaming table exclusively for an international tournament and the tournament’s prize pool exceeds GEL 3 million.

The proposed legislation establishes penalties for violations of permit conditions. A permit holder that breaches the conditions for organizing an international gambling tournament will face a fine of GEL 50,000, while an unauthorized person organizing or holding such a tournament will be fined GEL 150,000.

Berekashvili said international gambling tournaments would help attract more tourists and generate additional economic benefits for the country.

The Parliament considered the bill under an expedited procedure and approved it at first reading by 74 votes to eight.