The Macedonian Ministry of Finance has adopted new regulations on determining the reputation and integrity of gambling operators. These rules follow the recent adoption of the new Law on Games of Chance.
These regulations detail the documentation required to verify the reputation of all legal and natural persons applying for a licence to operate a casino, betting shop, slot hall or bingo.
This includes confirmations that either legal entities or natural persons have not been subject to a ban on organising gambling, and that other relevant circumstances apply.
The Ministry also explained that the regulation introduces strict controls on the sources of funds used for share capital.
The recently adopted law introduced reputation assessments for partners and associates of licensed operators. This also applies to members of the management and supervisory boards of operators in which the state is the sole shareholder.
In addition, procedures governing changes to the ownership structure, changes in capital and the appointment of members of management and supervisory bodies have been regulated.
The reputation assessment is presented as an important measure in the fight against money laundering and terrorist financing.
A new Law on Games of Chance introduced stricter requirements for gambling operators. The law requires that gambling venues with gaming machines be located at least 500 metres from primary and secondary schools.
It also introduces tighter advertising restrictions, increases various fees and places new limits on operators’ acquired rights. The sector has responded strongly, with many operators viewing the law as overly restrictive.
Last year, the total turnover of the gambling industry in North Macedonia reached €3.28bn, according to data obtained by local media from the Public Revenue Office
