French lawmakers have decided to abandon plans to legalize online casinos in order to address the country’s 6% budget deficit. Budget Minister Laurent Saint-Martin announced the decision, citing the need for further research into the potential impact on land-based casinos before revisiting the topic.
France, along with Cyprus, is one of only two countries in the European Union to prohibit online casinos. The proposed plan included implementing a 55% tax on the revenue generated by online platforms, with estimates suggesting that the nation’s black market for online gambling was worth up to €1.5bn ($1.6bn) last year.
One of the main opponents of the legalization of online casinos was Casinos de France, an organization representing the interests of over 200 land-based casinos in the country. The group expressed concerns that such a move could result in job losses and the closure of numerous establishments.
Following the removal of the proposal from the upcoming budget, Casinos de France expressed relief that the government had taken their concerns into account. They emphasized the importance of a framework for consultation and constructive dialogue in future discussions on the topic.
Overall, the decision to halt plans for legalizing online casinos in France reflects the government’s cautious approach to addressing the budget deficit and ensuring the stability of the gambling industry in the country. Further research and consultation will be necessary before any potential reforms are reconsidered.