Czech news sources have reported that The Stars Group online betting subsidiary BetStars, will become the first international betting operator to service the newly regulated Czech Republic online gambling market.
Last week, Czech news sources reported that the Czech Finance Ministry had published details of approved licensed operators for its new online betting regime, with BetStars featuring as the sole international operator.
Toronto TSX-listed, The Stars Group has an established presence within the Czech Republic having been granted the right to operate online casino and poker services under its PokerStars.cz domain.
The new Czech gambling regime came into effect as of January 2017. The Finance Ministry opened its licensing window to international operators, however interest has remained limited due to the high industry tax-rate of 35% on annual revenues.
The introduction of the new online gambling regime has seen a number of international operators such as William Hill and GVC Holdings exit the Czech market.
At present, The Stars Group has yet to confirm the Czech licensing approval or whether it will seek to launch BetStars services for the market.
Expanding its European footprint, The Stars Group has launched BetStars enterprises in the regulated markets of UK, Italy, Spain, France and Germany throughout 2016 and 2017.