DraftKings To Expand Into EU with Malta Gaming Licence
DraftKings has made another move that will enable it to expand in Europe. They have just received a Controlled Skill Games license from the Malta Gaming Authority which will enable them to expand into a lot of countries in the European Union.
The MGA has been at the forefront of providing progressive gambling licenses like the “Controlled Skill Games’ licence under which DFS falls under. This differentiates it from gambling and the license is valid for five years. Licensees are required to pay an annual fee of €8,500 as well as a 5% tax on gaming revenue with total tax payable capped at €466k annually.
The MGA new skill games approach is aimed at preventing criminality while protecting consumers. DraftKings CEO Jason Robbins said that they would increase their staff in Malta and grow their European operations. DraftKings are hoping to add to their UK entry which is still in its early stages. The U.S. remains its core business despite many legal challenge sin the last few years. The idea is that the expansion into the European Union will help DraftKings make DFS a popular pastime like in the US. Chief International Officer for DraftKings, Jeffrey Haas also told the Wall Street Journal that they were hopeful to launch in Germany by the end of March.