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Casino Industry in Georgia: Prospects in 2023

The gambling niche is one of the most reliable economic instruments in the country. The iGaming sector here has been actively developing for a quarter of a century. Over the past year, the market’s turnover reached 3.687 billion dollars.

Gambling business in Georgia: prospects

The Smart Money studio offers you to learn more about the advantages of working in the region and order the launch of a turnkey casino with a Georgian licence.

We guarantee an individual approach and comprehensive support. Our team will help you every step of the way.

Stages of the Local Gambling Market Formation

Casinos in this country have existed since the Soviet Union. For a long time, the industry was not controlled at all. The first attempts to regulate it were undertaken by the government only in the early 2000s.

Initially, the parliament considered the possibility of a total ban on this type of entertainment but the initiative was never supported.

In 2004, several political reforms were adopted that were aimed at fighting against corruption. The results of innovations were the following:

  • the country has completely overcome bureaucratic acrimony;
  • the crime level in the region has decreased;
  • active growth of the tourism sector began;
  • Georgia took the 3rd place in the list of the safest countries (according to the Gallup World rating);
  • the region took 4th place in the Forbes list in terms of the tax burden on the enterprises.

In 2005, the government passed the Gambling Law, which legalised all types of activities:

  • offline and online casinos;
  • locations with automatic machines;
  • gambling clubs;
  • sweepstakes;
  • bingo and lottery halls;
  • sports betting.

The business has encouraged more tourists to visit the country.

Reasons for the Growth of the Casino Sector

The local legislative authority has created all the conditions to make the launch of the gambling business as convenient as possible for all market participants.

It is beneficial for operators to invest in the local market for such reasons as:

  1. Convenient territorial location. The country neighbours the regions where gambling is strictly prohibited and constantly serves players from Iran, Russia, Turkey, and Azerbaijan.
  2. Developed tourist infrastructure. Georgia has a good climate and all conditions have been created to receive large flows of tourists. More than 4 million people visit the country every year.
  3. Absence of bureaucratic red tape. The government offers local and foreign investors a loyal tax burden and a simplified legalisation system. Operators can launch an online casino after they obtain a local licence in just one day.

Another advantage of working in Georgia is tax relief.

Flexibilities and benefits for casino enterprises

No income tax

Offline gambling halls with hardware games are exempted from income taxes

Exemptions from commissions on prize money

Locations with bingo games and slot machines, as well as land-based casinos are exempted from commission fees on the payment of prizes

Lack of quarterly charge

Representatives of the betting business are exempted from the payment of mandatory quarterly tax

No annual fee

The annual tax is not collected from offline clubs located in the resort areas: Sighnaghi, Kazbegi, and Gudauri

Legal Changes and Amendments

Georgian gambling legislation: peculiarities

The government has taken additional measures to control the market:

  • verification of the quality and legitimacy of the work of project owners;
  • assessment of compliance of entrepreneurs' actions with the provisions of the licence;
  • quality control of hardware devices and digital software;
  • issuance of certificates of conformity.

Several amendments were also made to the Gambling Law, which came into force in 2005. Among the innovations, there are:

  1. Local legal address. Foreign investors must register a company in the country. Offshore brands are not subject to casino licensing. The amendment applies to all representatives of the industry: owners of land-based and digital locations, suppliers and distributors of content, and software vendors.
  2. Registration in the electronic control system. All enterprises operating in Georgia must be entered in a single register. The program was developed in January 2021 to control the timeliness of tax deductions and evaluate the legality of the work of businessmen.
  3. Additional tax fee. The services of regulatory authorities and bodies that issue certificates of conformity will be paid from the new tax. Such fees are mandatory for all market participants. The amount of deductions is prescribed in legislative amendment No. H455.

Tax Program for the iGaming Sector

Representatives of the industry pay 2 types of taxes:

  • annual and quarterly deductions with a separate rate for each type of business;
  • annual payment for each region of the country, except for resort areas.

Deductions are paid in equal shares over a specified period. For representatives of the online sector, a single tax in the amount of 5% of the annual turnover is provided.

The size of the annual rate of the casino business for different formats:

  • 40 thousand dollars — for offline locations;
  • 20 thousand — for clubs with hardware equipment (slot machines);
  • 4 thousand — for establishments with card and board games;
  • 12 thousand — for the betting business;
  • 6 thousand — for organisers of lotteries and sweepstakes and owners of bingo halls.

Additional Taxes

Market participants must pay:

  • 20% of the personal income from the establishment and conduct of business (from wages of casino employees);
  • 1% deductions from real estate objects;
  • 15% as corporate income tax;
  • 20% from mass events, tournaments, and sweepstakes with a monetary prize fund.

Features of the Georgian Licence Acquisition

It is very easy to buy a casino with a Georgian permit. Applications can be filed by both local and foreign investors. Moreover, personal presence is not required: documents can be sent electronically.

It is important to know that the launch of a digital project is possible only after the opening of an offline casino or a gambling hall with slot machines.

Another feature is that operators can independently choose the time for the consideration of an application:

  • 20 days — the service is provided free of charge;
  • 10 days — additional payment in the amount of 400 Georgian lari (about 200 dollars);
  • 5 days — additional commission of 800 lari;
  • 1 working day — the service will cost 2 thousand lari.

Certificates are issued for 5 years, regardless of the type of activity.

Where Can You Buy a Ready-Made Start-up with a Georgian Licence

Turnkey licensed casino in Georgia: assistance

You can order the development of the turnkey business from the Smart Money studio.

We offer casino software from the best vendors and a wide range of services that will optimise your gambling project:

We offer:

  • an effective project structure;
  • assistance in collecting a package of documents;
  • support during the registration of a legal address;
  • assistance in applying for the acquisition of a permit;
  • opening bank accounts.

Convenient types for cooperation:

  • White Label program;
  • franchise agreement;
  • turnkey projects.

From us, you can order profitable marketing cases. We use next-generation advertising tools and guarantee a full return on investment in the first year of operation.

The Main Things about the Georgian iGaming Market

In this country, the casino industry is considered to be one the safest, most reliable, and most promising.

Advantages of working under the local licence:

  • Low tax burden. Georgia has created the most favourable conditions for the inflow of foreign investment. The country takes 4th place on the Forbes list in terms of the tax burden.
  • Benefits for the gambling business. Casinos operating in resort areas and representatives of the betting sector are exempted from all mandatory fees. Entrepreneurs do not pay taxes on winnings, and for the online market, there is a flat rate of 5% of annual revenue.
  • Simplified licensing procedure. You can file an application electronically, without a personal presence. Operators can also choose the time for consideration of the application and launch the project literally within a day.

To learn more about the nuances of legalising iGaming start-ups, please contact Smart Money specialists. They will guarantee you comprehensive support and a wide range of products and services for business scaling.

From us, it is possible to order casino software created by the best vendors. It will include:

  • cross-platform HTML5 products;
  • mobile solutions;
  • instant games and lotteries;
  • social entertainment;
  • 3D and VR content;
  • live offerings;
  • sportsbook software.

For all questions, please contact our managers!

Hans Adrian

Hans Adrian

B2b Gambling Business Advisor & Strategist

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