Georgia Parliament Approves Law Permitting Casinos to Organize International Gambling Tournaments
Georgia's Parliament passed a law allowing casinos to host international gambling tournaments with tax breaks for large prize pools, despite criticism over social costs.Summary
Georgia's Parliament approved a bill permitting casinos to organize international gambling tournaments, defined as competitions with prize pools guaranteed in advance and at least 80% foreign participants. The law, passed 73-5, exempts organizers from the gambling business fee on gaming tables used exclusively for such tournaments if the prize pool exceeds GEL 3 million (US$1.16 million). Foreign nationals participating in these high-prize tournaments are exempt from taxation on winnings, while individuals' taxable income from participation is subject to a 20% tax. Organizers violating licensing requirements face a GEL 50,000 fine. The legislation drew criticism from the Georgian Orthodox Church Patriarchate and the Public Defender over unassessed social costs and the fast-tracking of the bill, highlighting tensions between attracting international gaming revenue and addressing domestic concerns about expanded gambling access.
(Source：Sccg Management)