At the initiative of ruling party MPs, a legislative package setting out the rules and conditions for organizing international gambling tournaments has been submitted to the Georgian Parliament.
Under the Georgian Dream proposal, an international gambling tournament is defined as a tournament organized by a casino, with a prize fund guaranteed in advance and at least 70 percent of participants being foreign nationals.
Organizing an international gambling tournament is permitted both at a venue operated under a casino license and outside it, subject to the relevant permit.
Under the draft, if an international gambling tournament’s prize fund exceeds GEL 3 million ($1,155,000) and the club table is used solely for that tournament, the organizer is exempt from the gambling business levy on the club table and may receive the income generated by the tournament.
Under the draft law, the fine for violating licensing conditions will be GEL 50,000 ($19 270), while an unauthorized person organizing an international gambling tournament will be fined GEL 150,000 ($58,000).
The annual licensing fee for organizing an international gambling tournament will be GEL 100,000 ($38,600).
The authors of the legislative package are Georgian Dream MPs Shota Berekashvili, Tornike Berekashvili, Irakli Mezurnishvili and Giorgi Barvenashvili.
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