The decision of the Gaming Authority to prohibit payment transactions to unauthorized gaming operators has been successfully implemented, in accordance with the Gaming Law.
The Administration explained that the decision was implemented within the framework of activities carried out by the Ministry of Finance, the Central Bank (CBCG) and the Gambling Administration through the work of the Coordination Body for the Protection and Promotion of Public Interest in the Field of Gambling.
"Accordingly, all banks and other payment service providers in Montenegro are obliged to reject payment transactions in which the recipient is a foreign company using Merchant Category Code (MCC) 7995, and which are initiated from accounts in Montenegrin commercial banks," the statement said.
The Administration reminded that Article 7 of the Law on Games of Chance explicitly prohibits participation in foreign games of chance for which stakes are paid on the territory of Montenegro, as well as any payment to companies that do not have a permit to organize games of chance via the Internet in Montenegro.
"The implementation of this decision has prevented further outflow of money from Montenegrin payment cards to foreign platforms that operate outside the legal regulations of Montenegro. This has enabled the money that has so far gone to unauthorized foreign organizers to be redirected to legal organizers of games of chance in Montenegro, which will directly affect a significant increase in budget revenues through the payment of concession fees," the statement said.
In Montenegro, 13 organizers currently hold a license for online games of chance, which contributes to player safety and strengthening competitiveness in the market.
"During 2022, the number of such transactions amounted to 132,11 thousand with 4,91 thousand payment cards, with a total value of EUR 6,32 million, while in 2023, 133,45 thousand transactions were registered with 5,12 thousand payment cards, in the amount of EUR 6,18 million," the Administration specified.
In the first quarter of last year, 30,37 thousand transactions were recorded with almost two thousand payment cards, with a total value of 1,3 million euros.
"The indirect control conducted by the Central Bank of Montenegro determined that all banks operating in the territory of Montenegro acted in accordance with legal requirements and completely blocked transactions identified as payments to foreign companies with MCC code 7995," the statement said.
The Acting Director of the Gaming Authority, Spasoje Papić, said that the implementation of this measure is the result of quality institutional cooperation between the Ministry of Finance, the Central Bank and the Gaming Authority, implemented within the Coordination Body for the Protection and Promotion of Public Interest in the Field of Organizing Gaming, with the aim of strengthening fair and transparent business operations through market regulation and increased supervision.
"The Gaming Authority will, in accordance with its competences, continue to work for the benefit of the citizens and the state of Montenegro, with the aim of preventing the outflow of money to foreign unauthorized organizers, strengthening the budget and protecting state interests, as well as protecting players and legal organizers who have the right to organize games of chance in Montenegro," concluded Papić.
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