Mozambique makes revision to its Gambling Laws to attract investors

Mozambique’s president has signed into law revision to its gambling legislation that legalizes online gambling, along with new land-based operation to permit slot machines in non-casino areas and permission for casinos to be built anywhere in the country.

Part of the new law includes provisions cutting the minimum company investment required from the previous $15 million to $8 million this week.

However, the move came as something of a surprise to the industry stakeholders, as the country legalized online gambling in 2009 and received nowhere near the attention that its more significant and more influential neighbor South Africa has been given. The South African industry that has an impressive sophisticated financial and technical infrastructure has been researching the legislation of online casino gambling. The development of an online gambling jurisdiction for literally years with the much-anticipated research has been delayed bedeviled by political debate, fact-finding missions, and generally slow official progress.

However, part of the Mozambique mission is to make the country hub of the gambling industry by promoting its tourism sector while allowing for the online casino gambling legislation in the country. To meet up with the standard of its neighbor, while the government is putting all measures in place to enable an enabling business environment to attract international gambling brands operating and outside the country to come to invest in the sector. (…)

The entire article can be read in the latest issue of Magazine E-PLAY Africa

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