AUSTRALASIA
a hard line with unlicensed providers. It will be an offence to offer online casino gambling in New Zealand without a licence, with a penalty of up to NZ$5m. To assist with enforcement of New Zealand law for offshore providers, the new legislation will include an explicit extra- territorial provision. The regulator will also have new powers to issue take-down orders and take- down notices. Conclusion A New Zealand online gambling licence will clearly be valuable not only in terms of potential revenue, but also in terms of reputation. The Regulator expects the auction cost to be a “medium cost” for licenced operators, “likely
in the millions, however low in proportion to likely profit.” My view is that the demand for the licences, and thus the revenue generated from the auction, will be higher than the regulator anticipates. The above information is based on what has been published and signalled to date. More information will become available once the draft legislation and draft regulations are released for public consultation. The proposed licensing structure could change as a result of the public consultation. It is therefore recommended that providers who are interested in obtaining a licence consult a New Zealand-based expert to keep up to date with what is proposed, as part of their due diligence.
JARROD TRUE Director, True Legal Ltd For information contact +64 27 452 7763 Jarrod.True@truelegal.co.nz
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