The New Zealand government has said it will issue only 15 online casino licences as part of its planned regulation of the vertical.
Brooke van Velden, the internal affairs minister, provided an update into the country’s plans today, 13 November, after announcing her intention to put igaming legislation in place back in July.
New Zealand is still expecting to regulate the vertical by 2026, with van Velden noting additional requirements for operators that will be included in the draft legislation.
They include prohibiting advertising that appeals to children, ensuring effective age verification tools are in place and the introduction of fines up to NZ$5m (£2.3m) for operator failings.
In July, van Velden said the introduction of online casino legislation would drive down gambling-related harm.
Her update today builds on the information previously disclosed, including the fact licences will last for three years and holders will be unable to offer sports betting or lottery.
Online casino remains unregulated in the market, with van Velden claiming New Zealanders can gamble with “thousands of offshore websites”.
Committing to her stance that legislation would help better protect consumers, van Velden said: “A new Online Gambling Bill will be drafted with the purpose to regulate online casino gambling to facilitate a safer and compliant regulated online gambling market.
“More importantly, it will prevent and minimise online gambling harm and limit opportunities for crime and dishonesty.
“My goal is not to increase the amount of gambling that is happening online, but to enable New Zealanders who wish to play casino games online to do so more safely than they can today.”
The government has yet to detail what the tax rate on online casino could be, or if a new regulator will be formed within the Department of Internal Affairs to oversee the sector.
Van Velden said she would release further updates on the legal framework ahead of attempting to push a bill through parliament next year.
She added: “By introducing a regulatory system my intention is to channel customers towards up to 15 licensed operators.
“Further regulations will be developed on the detailed rules around advertising, as well as harm minimisation and consumer protection requirements. This is the same approach used in the existing Gambling Act and will give us more flexibility to adjust the regulations where necessary.
“The new regulatory system will be in place by early 2026. I look forward to taking the Bill through parliament next year and hearing feedback from the public during the select committee stage.”
The post New Zealand announces 15 online casino licences and maximum fines of NZ$5m first appeared on EGR Intel.