Interactive
Portugal – PokerStars granted online licence for Portugal
By Phil - 1 December 2016
PokerStars has been granted a licence to operate in Portugal.
The regulatory body the Serviço Regulação e Inspeção de Jogos do Turismo de Portugal (SRIJ) confirmed that it had granted a licence to REEL Europe Limited based in Malta, a subsidiary of parent company Amaya on Monday (November 28th). Portugal’s government legalised the online gaming sector in June and is hoping that opening the country up as a new online gaming market will attract enough national and international operators to raise an extra €25m in tax revenue. It is the fifth licence to be granted by the regulatory body.
PokerStars initially withdrew from the market in July 2015. The SRIJ has given the company the licence to operate poker and an online casino and the newly launched platform will offer tournament poker, Hold’em poker, Omaha poker, Blackjack and French Roulette. According to a press release Amaya also expects to seek appropriate approval to offer sports betting through BetStars in Portugal in due course. However, poker will be ring fenced with liquidity restricted to Portuguese residents.
CEO of Amaya Rafi Ashkenazi, initially made the announcement in November during the company’s third-quarter conference call saying that the company was waiting for final regulatory approval. He also explained that shared liquidity could occur at some point either worldwide or between other ring fenced markets such as France and Italy.
In a press release on Wednesday (November 30) the company said:“PokerStars will maintain the very highest levels of player fund protection by segregating Portuguese player funds under trust agreements, as is done in all markets where PokerStars offers its products. In the meantime, while Portugal remains a closed liquidity poker market, PokerStars intends to actively work with applicable Portuguese authorities to help further develop and enhance the Portuguese regulatory framework for poker, including, without limitation, through the promotion of shared liquidity.”
“We are very happy to offer the world’s leading online poker brand to Portuguese players under a local regulatory framework that ensures rigorous consumer protection and gaming integrity,” added Eric Hollreiser, Vice-President of Corporate Communications for Amaya. “This approval demonstrates our commitment to the responsible growth of online gaming by supporting local regulation that protects players, creates a viable marketplace and provides revenue for local governments.”
