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Will Lebanon’s First Online Casino Put an End to Illegal Gambling?
By Shane Addinall Jun 05, 2019 IndustryAs Lebanon's only casino plans to open the very first online casino site in the country, we're delving into how this could affect more than just the industry. Will this help boost Lebanon's revenue? And how will safety concerns affect the casino's plans?Around the world, online casinos are popping up each month, offering players new and exciting ways to experience their favourite casino games.
In Lebanon, the online casino bug has bitten, but plans to introduce a legal and safe option has been thwarted by local government.
Lebanon’s only land-based casino, Casino du Liban, has been working on a plan to introduce their own online casino since 2017 to no avail.
Progress Interrupted by the Government
While the CEO of Casino du Liban, Roland Khoury, has been focused on creating an online platform for players from Lebanon, the government has had other plans. Or rather – no plans at all.
The Ministry of Finance in Lebanon originally attempted to pass a bill that would legalise and regulate bingo halls, amusement arcades and online casinos in 2012, but Congress has failed to make any fixed decisions.
Tensions are running high as the country loses out on potential revenue and the Ministry of Finance has voiced their annoyance on many occasions.
A statement released by the Ministry of Finance in 2018 said: “We amended a draft in 2012 to include all gaming outside Casino du Liban, including the bingo centres, under the jurisdiction of the finance ministry. It hasn’t been approved or discussed by anyone since then because of the political nonsense you know about.”
Potential Gains for Lebanon
More than just another way to raise revenues (which an online casino would do successfully), Casino du Liban would also like to eradicate illegal gambling in the country by releasing their own site.
Currently, Casino du Liban is the only casino available in Lebanon with the government owning a majority stake and receiving millions of dollars in revenue every year.
Unfortunately, due to no legal way of doing so, residents have taken to playing at illegal online casinos. In 2013, internet providers were ordered to block these illegal sites, but as more online casinos welcome players from Lebanon, the struggle continues.
It’s obvious that Casino du Liban aims to profit off of the residents who already play at online casinos illegally, but it also makes sense in order to protect players. The current state of affairs regarding the passing of the bill means that players will seek their thrills wherever they can find them.
Loss of Revenue
All countries that have legalised online gambling can attest to the revenue which this can drum up in a single year.
Casino du Liban currently pays 50% in tax which is worth approximately $45 million each year. The casino boasts more than 600 slot machines, 60 gaming tables, a casino room, a night club, multiple restaurants, a theatre, and will soon also be home to a 5-star hotel.
As the only land-based casino in Lebanon, you may assume that they are the only place to enjoy slots. Unfortunately, the casino has to compete with amusement arcades which also offer slot machines, but only pay a fraction of the tax. Once again, this is another way in which the country is missing out on potential revenue. The bill in question would deal with this issue but is once again, being ignored.
Unsafe Conditions
Not only does Casino du Liban have to fight against government restrictions and illegal competition, but the unsafe conditions of the country make it difficult to grow the business.
Outbreaks of violence and a troubled past all add to Lebanon’s woes which have seen citizens from the USA being encouraged not to visit the country at all.
It may not be a fix-all solution, but the legalisation of online gambling in Lebanon could be a huge help in adding much-needed finances and potentially setting the country on a healthy financial path once more.
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