Big Decision by Vera&John Casino to Leave the Australian Gambling Market
Vera&John casino is one of the most popular casinos that have set its benchmark in the online casino world. Until date, it has offered hundreds of slot games with unique features to its players across the globe. The most fascinating part of this casino is that it offers a bit more advanced games with bonus features and free spin functionalities. In addition to this, every video slot game is based on a different theme with amazing graphics and great sound effects.
Recently, Vera&John has made the news with its decision to leave the Australian market. According to the media reports, the casino has today become the very first casino to close down its operations in the Australia. The reason behind this big decision is certainly the new online gambling laws. The recent legislation has restricted the entire casinos that are working offshore to stop offering their services to the players of Australia.
The Declaration by Vera&John Casino
It is true that the company has not said anything in a detailed manner but it has clearly said that it is a business decision. Recently, it sent an email to all its Australian players informing about their decision to terminate their casino services in the nation. However, the casino regrets its decision but it is all done under the latest legislation. It stated that the players who are a member of it at present will not be able to access any games on the site and will not be allowed to make any deposits.
Further, the current accounts of the players will be closed by the company in the coming week. On the other hand, the funds that will be left in the casino’s accounts after the deadline will then be transferred to their owners. It simply hints at the fact that Vera&John is taking every step wisely and has no intention to forfeit the money of the players.
About the New Legislation & Its Impact on Vera&John Casino
The casino seemed a bit reluctant to disclose the real reason behind their decision. However, it is quite clear that the decision is lured by the changes in the gambling laws. It is known that the Federal government has recently received the feedback for the existing gaming provisions that is further expected to bring a change in the online gambling landscape.
The law has made it very clear that any company that is dealing offshore will not be permitted to offer its gaming services in Australia without attaining a local license. To operate legally, the casino will have to acquire a gambling license from the state. In addition to this, the government has put a penalty of up to $1,000,000 if any casino is operating without the license. It shows that the laws have actually become very tight in the nation.
After the new gambling law has been announced, Vera&John is the first company that has walked out of the Australian gambling market. The media reports reveal that the other casinos are planning to play a safe game by bidding farewell to the Australian market themselves instead of continuing and confronting the severe consequences. After Vera&John, PokerStars is another casino that has announced its decision to leave the market.
Therefore, it is sure that all the other casinos also are going to remove themselves from the gambling market of Australia. All the players who are still a member of Vera&John are advised to close their accounts and withdraw all their money before the company gets closed down. Yes, you can plan to sign up at another casino that holds a license of Australian gambling market.