PokerStars will cease all operations in the Czech Republic later this month. The Premium online poker platform will stop offering all games, including online poker and casino activities, as the Czech Republic undergoes regulatory changes for online poker.
The company announced last week to surrender its license by June 20 and completely withdraw before the new regulations take effect on July 1. The regulatory changes were announced in January, and it aim to modernize the online gaming landscape in the country.
However, some operators opposed certain changes, such as increased responsibility for online gaming sites to restrict problem gamblers and higher tax rates on operators. The new laws also expand the definition of “illegal gambling” and facilitate government investigations.
In the new law, the government holds the power to block illegal gambling sites. Additionally, the tax rate for live games, bingo, odds betting, live betting, horse race wagering, raffles, and “small-scale” poker tournaments has been increased from 23% to 30% of gross gaming revenue (GGR).
“In light of impending regulatory changes in the Czech Republic, PokerStars announces its decision to cease operations in the country and surrender its decision to cease operations in the country and surrender its license by June 20, 2024,” via an email to Czech players. “The company will fully exit the market before new regulations take effect on July 1, 2024.”
PokerStars informs players that they can play until June 20. However, the company won’t accept new deposits from June 6, players are also recommended to withdraw their balance before June 20, as their accounts will be closed or restricted. The remaining balance will be returned to players’ registered bank accounts.
Following Partypoker’s departure last year, PokerStars will become the second international poker operator to exit the Czech market. Czech players will now have only two locally regulated online poker platforms, including Fortuna Poker.
The company commented, “PokerStars has no current plans to re-enter the Czech Republic Market.” This is a bit concerning as the company may stop hosting the European Poker Tour Prague. EPT Prague has been one of the most popular poker series in the country.
The recent edition of EPT Prague, 2023, attracted a solid number of players, and PokerStars already made plans for 2024 EPT Prague. The series is scheduled for December 2024, and seeing the current circumstances it may never happen.
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