Gambling industry operators in the nation of Denmark have been warned about their status in the country following the UK’s exit from the European Union.
Spillemyndigheden, the national gambling authority of Denmark, has issued guidance that reiterates the requirement for all licensed online gambling incumbents in the Danish market to ensure that their registered business entities are officially resident in an EU or an EEA nation.
The Danish authority has put out the warning as the UK government and their EU counterparts enter what has been described as the ‘final negotiating window’ to secure a reciprocal trade deal that can be confirmed at the EU Council Summit, which is due to get underway on December 10.
With talks apparently stalled, if no trade arrangement or further extension to the Brexit process is agreed, then the UK and EU will then consider that the current transitional agreement will come to an end on January 1, next year. From that point on, the UK will no longer be allowed EU market access or any of the privileges of being an EU member state.
According to the terms of Denmark’s revised Gambling Act, any individual or company holding a Spillemyndigheden authorised online gambling licence must be officially resident in Denmark or in an EU or EEA country. Spillemyndigheden has therefore issued a warning to its UK residing businesses that will apply from the start of 2021.
The regulator has stated that any license holders established in Great Britain following the end of the transition period will be responsible for complying with the rules. Those businesses that might be impacted have been referred to Denmark’s Gambling Act, which sets out in Annex C, the process through which operators can transfer licences to new representatives who have been approved by Spillemyndigheden. According to Annex-C licensed operators will be required to make a full declaration about the representative, including details of any debts, connections to the operator, addresses and other positions held.