It's official – 32Red, one of the leading online gambling operators, will say goodbye to Australia!
The latest acquisition of Sweden-based Kindred Group (formerly known as Unibet) is just one of the many well-known names in the business that will be leaving the Land Down Under in the near future.
New Law is Forcing the Operators to Leave
The main reason for such move is the adoption of new gambling regulations.
It is still unclear what will the new amendments to the current law bring, or when exactly are they going into effect, but at least one thing is certain. These amendments outlaw all offshore operators that offer their services to Australian players, so the only logical step for any reputable company will be to part from the local market in order to avoid any legal problems.
Vera&John Casino and 888poker were the first to leave after it became clear what changes would the amendments bring, while many others are preparing to follow in their footsteps.
Licensing is the Biggest Problem
Although it is very clear what impact the amended law will have on the Australian gambling market, the licensing procedure still remains undefined and without clear instructions on how to apply for the license, the operators chose the only remaining option – to leave.
Those familiar with the state of the Australian gambling market agree that, in a way, the law itself is chasing away the operators, since it basically leaves them with no other choice. Until the licensing process is clearly defined, no company will risk legal repercussions.
Online poker will suffer the most, since it is one of the most popular forms of online gambling among Australians.
PokerStars has already announced their intention to completely leave Australian market as soon as possible. The number of operators is slowly dwindling and it seems the lawmakers are not willing to do anything about it.
32Red was founded in 2002 and since then had become one of the best-known gambling companies. It holds licenses in Gibraltar and the United Kingdom, with more than 110 employees.