NetBet obtains licence for Romanian market

1 July 2015

Betting and gaming site NetBet has restarted its activities in Romania after a 12-month break following its advance payment of all penalty, licensing and authorisation taxes and guarantees to the Romanian Government.

The group did not reveal the amount it paid in retroactive taxes but as its exposure to Romania was not major it is not thought to be a high amount. It has received a temporary licence from Romania’s Supervising Committee of the National Gambling Office that will run until 31 December 2015, during which time NetBet will prepare its application for a 10-year licence.

The issue of retrospective taxes is dominating discussions among companies interested in the Romanian market. The total payable by the sector could reach up to €90m, with operators such as bwin, PokerStars and Bet365 liable to pay the bulk of that amount.

NetBet employs 250 staff in the Romanian town of Timisoara, it said regulated markets across Europe would “always be the main target” for its activities as they “provide safety and peace of mind for the players, predictability and a solid environment for operators while the regulator can collect much-needed revenues from taxing these activities”.

NetBet is licensed in Belgium, France, Spain, Italy and the UK.

Related articles: Romania back tax to play key role in which operators get licensed (paywall)
Romania set for retrospective back tax as regulation nears (paywall)