Representatives of PokerStars said they will surrender their license by June 20. They will also fully shutdown its presence in the Czech Republic before the new regulations take effect on July 1.
In January, the country announced changes to online poker regulations to enhance online gambling in the country. The new rules will require sites to take on a larger burden of monitoring and restricting problem gamblers. They will also redefine what constitutes illegal gambling. It makes government investigations of online gaming sites easier. Moreover, from 23 percent to 30 percent, it increases the tax rate on gross gaming revenue.
PokerStars did not identify what new regulations brought about this decision when announcing its departure from the Czech Republic market. On June 6, new deposits on the PokerStars platform in the country became restricted. All players were also alerted that balances should be withdrawn before the license surrender date.
PokerStars representatives said in a statement that PokerStars has no current plans to re-enter the Czech Republic market. For players with questions and concerns about bonuses, tournament entries, or live events, the company assures refunds and accommodations where applicable.
Two regulated online poker sites will remain available in Czech Republic. This is following the withdrawal of PokerStars. The authorities have included Fortuna Poker and partypoker.