Financial difficulties in Portugal have caused its government to reconsider its position on online gambling.
The Portuguese government has in the past viewed online gambling as a threat to its national lottery monopoly. But in recent moves, the government has moved towards condoning the practice under regulated, licensed and taxed conditions.
The recent change of heart comes in the face of empty government coffers, which could be refilled with an extra 250 million Euros generated from gambling concessions, should the practice be legalized. A recent internal discussion document examined the possibility of using funds generated from legalized online gambling as a means of financing urgent pension needs.
The February reports from the Ministry of the Economy served as a confirmation that the concept is moving forward. Advisor to Secretary of State for Tourism Cecília Meireles, Rita Abecasis, confirmed that, the “250 million will come from online gambling”, but there was no clarification about whether the number includes ongoing taxes in addition to initial licensing fees.
Without giving many details, Meireles stated this month that the government could go through with the introduction of a regulatory regime, and the related collection of taxes before the end of 2012. She also confirmed that there is political agreement on the concept.
