03-07-2007 Italy to outlaw street corner shops supporting foreign betting operators

While the Italian public accounts watchdog launched an investigation into Snai, Italy's largest betting company, for failing to provide correct service levels, GamblingCompliance.com reports of a new decree targeting thousands of street corner betting outlets. According to the internet publication, the new law will eradicate the so called "punti remoti" acting as intermediaries for foreign internet betting operators by choking off their commission deals and limiting transactions to credit cards only.

Meanwhile, Snai is looking at a probe that could expose the betting company to service level penalties for EUR 4.8 billion.

The company, which rejected the allegations in the investigation promoted by the Italian gaming regulator AAMS, recently forecasted its 2007 earnings at EUR 110 million and announced plans to open about 5,100 new betting points in 2007.