Government of Montenegro / photo: Wikimedia Commons

Today, the Government of Montenegro has approved the Draft Law on Gambling, which will bring sustainable and systematic regulation to the sector after 20 years, as announced by the Ministry of Finance.

“After two decades of insufficient legal solutions and numerous attempts to establish new regulations, the Ministry of Finance has developed a comprehensive Law on Gambling that will sustainably and systematically regulate this area,” the statement said, as reported by Mine.

The Ministry emphasized that the aim of this legal framework is to effectively manage this area of public interest for the long term.

“The new law will be built on five pillars – socially responsible management of gaming activities, protection of minors, prevention of money laundering, and enhancement of control mechanisms,” according to the statement.

The Ministry further explained that from January 1 of this year, amendments to the existing legislation in this sector have already led to significant revenue increases and better regulation concerning money laundering.

“Nevertheless, we aim to continue refining this area by establishing frameworks for further measures against money laundering and financing within the Montenegrin sector, ensuring better oversight of managerial practices, as well as more effective monitoring of financial flows and player behavior,” the ministry indicated.

The new legal framework, as mentioned, was developed with a keen understanding of its specific nature, which encompasses economic, social, and health dimensions.

“Thus, we approached the regulations in this field with a commitment by the state to address or minimize negative impacts, through socially responsible measures aimed at protecting minors and ensuring the public’s accessibility to information,” the statement further highlighted.

The new regulations will also enhance the inspection sector, defining clear responsibilities in terms of professional supervision and field inspections.

“The creation of this legal solution was preceded by open and comprehensive dialogue with stakeholders, who provided several comments and suggestions that were carefully considered by the professional team of the Ministry,” concluded the announcement.