East Timor President supports online gambling for foreigners only
East Timors President Jos Ramos-Horta has expressed his support for issuing online gambling licences aimed at overseas gamblers. However, in an interview with a Macau media, he emphasised that his government is not interested in developing land-based 바카라s within the country.
Ramos-Horta said that he doesnt want Timorese to lose everything in gambling with all the human and sometimes tragic consequences. The President added that if foreigners want to gamble online and Timor offers an online gambling possibility, it is fine.
Ramos-Horta is East Timors second president and a Nobel Peace Prize laureate.
Promoting the online gaming industry
The Southeast Asian country has established an independent administrative body called the Virtual Gaming Association of Timor-Leste (VGA) to promote and initiate an online gaming industry. The VGA has recommended the issuance of both B2C and B2B licences by the second quarter of next year.
A new powerhouse in virtual gaming
Dr. Joseph Borg, a prominent figure in the iGaming industry, discussed East Timors potential in an earlier interview with SiGMA News. Borg’s interest in East Timor was piqued by a meeting with Ramos-Horta, a driving force behind the country’s economic modernisation efforts.
During his visit, Borg met with experts developing a new gambling framework and joined the VGA advisory committee. He believes East Timor will complement rather than compete with Malta, offering Malta-based operators access to the challenging Asian market. Borg also highlighted the potential for job creation and the development of a technology ecosystem to support the iGaming industry in East Timor.
Legal framework for gambling
East Timors Decree-Law No. 6/2009 provides a legal framework for various forms of gambling, including lotteries, cockfighting, and 바카라 games. The law integrates gambling into the legal economy, prevents impunity, and contributes to public revenues while promoting social and financial harmony. It emphasises the importance of public tenders and transparency in the concession and licensing of gambling operators.??
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