State Gambling Venture Expands in Hungary
Despite a request from the European Commission to open its doors to overseas gambling operators, the Hungarian government is instead forging ahead with its gaming company Szerencsejáték. The state owned firm has been busy expanding iits operations to offer Hungarian gambling fans an updated range of services.
The firm's chief executive officer Gábor Székely has confirmed that the firm is currently facilitating a tender process to source a provider for new technological equipment. This equipment will help Szerencsejatek increase its capacity to offer new services with the aim of being fully up and running within 18 months. While the latest games and wagering options will be available to Hungarian residents, foreign residents without an address in the country will be banned from participating on the company's site.
This news indicates that it is increasingly unlikely that Hungary will heed the European Commission's request issued late last year. The EC requested that Hungary allow foreign based operators to compete in its local sports betting market in order to comply with the Commission's principle of assisting free trade. It is estimated that Hungarian sports betting fans spent 15 billion euros at internet gambling sites last year.
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