After Albania banned casinos and gambling operation, it has been a crisis like situation for gambling operators in the country. Now two Albanian companies are all geared up to move to neighboring Montenegro.
Earlier in October 2018, Albania had banned all gambling operations except in five-star luxury hotels outside cities.
Albania is one of the weakest countries in Europe in terms of its economic capacity and closing all gambling operations is going to take a toll on the state’s tax revenues.
The government had ordered in October last year that all gambling operations should shift in five-star hotels outside urban locations.
Following the full-scale ban which came into effect from January 2, 2019, over 4000 gambling and online casino sites have been banned. Also, walking in the footsteps of Albania neighboring Kosovo also banned all gambling operations in the country last month. The decision came after two casino workers were killed.
Albania’s news daily Pobjeda quoted independent advisor Mirko Rajkovic saying “Montenegro’s Games of Chance Administration is considering two requests for obtaining concession filed by companies whose owners and directors are Albanian citizens who live in Albania.”
On the other hand revenues from gambling operations have increased dramatically in Neighboring Montenegro. In 2018, it was up 28.5 percent to €15 million.
The majority of Montenegro’s casino and gambling revenues come from betting shops, its five casinos and 97 slot machine clubs which generated a revenue of 8.3 million, 3.86 million and 2.25 million respectively.