The licenses acquired in May gave NetEnt the right to produce and distribute gaming software in Romania, as well as to host and manage online gaming facilities for the nation’s players. Romania changed its gambling law at the tail-end of 2014 in order to regulate online gaming and sports betting in the country, and at the same time to raise more money via the taxation of those markets. That law, which came into force last year, effectively opened the country to applications for gambling licenses from any business that is based in the European Union or a handful of other non-EU countries.
Romania isn’t the only nation to embrace iGaming in recent years. France regulated its online gaming market in 2010, and Spain did much the same when it introduced its Spanish Gambling Act in 2011, although in that case gambling had already been legal, but wasn’t regulated in a nationwide manner. Gambling revenues have soared in both of these nations following regulation, and so it is no surprise that many other countries are exploring the idea of following suit.
Brazil, which currently has an estimated illegal gambling market worth $1.6 billion per annum, is one such country, and if gambling were regulated there it could go a long way to helping solve some of the nation’s economic difficulties. In fact, some estimates have suggested that a regulated Brazilian gambling market could generate revenues of around US$3.8 billion per year.
Whether or not Brazil and other countries decide to embrace iGaming remains to be seen, but for now the eyes of the industry will be on Romania, and NetEnt are certainly pleased to be operating there. Enrico Bradamante, who is Chief of European Market Operations and Managing Director of NetEnt Malta Ltd, said: ‘We keep delivering on our global growth strategy by strengthening our position on regulated markets and we are very pleased that our popular games are now also available in Romania.’