Montenegro: The new Monte Carlo?

When thinking of gambling, one typically thinks of Las Vegas or Monte Carlo as being destinations for serious gambling enthusiasts. However, the small hidden gem of Montenegro is currently working very hard on making a name for themselves in that market. Their efforts to contend with established and globally recognized gambling destinations has not only earned Montenegro a substantial increase in financial tourism revenue, but global recognition as well. It has become very obvious that Montenegro takes great pride in its tourism industry, including its luxurious casinos and its fairly new online gaming industry.

Formerly a part of what was Yugoslavia, Montenegro is a rapidly and enthusiastically growing European tourist destination. It is a very small European principality nesttled in Southeastern Europe among Serbia, Croatia, Bosnia, and Albania. The capital of Montenegro and its largest city is Podgorica, though Cetinje is still known as the Prijestonica, or the former Royal Capital City. Montenegro, meaning black mountain, has a coastal shore along the beautiful blue Adriatic Sea, making its resorts and scenery very popular tourists attractions. This scenery includes 120 different beach destinations along the Montenegro 182 mile coastline and plenty of mountain terrain perfect for anyone who is a snowboarding or skiing enthusiast. Montenegro is such a beautiful destination that National Geographic Magazine listed it among their “50 Places of a Lifetime” in their 25th edition of Traveler’s Magazine.

Along with breathtaking natural scenery, Montenegro has a lot to offer in the way of gambling and entertainment. In fact, the World Tourism and Travel Council determined that Montenegro should be first on its list of countries that use tourism as a strategic industry, and very rightfully so. Two of the most popular casinos in Montenegro are The Queen of Montengro (Becici) and Maestral Resort and Casino (Prznoe). Montenegro’s luxurious casinos are so breath-taking that they were featured in the famous James Bond movie “Casino Royale”. If large and lavish casinos were not enough of an insentive for enthusiastic gamblers, there are numerous slot halls all over Montenegro that are great for casual and quck gambling that can be peppered into a day of activities. It is assumed that this industry, along with other areas of tourism, is responsible for the 20% increase in Monetenegro’s tourism gross domestic product. It is projected for a steady 8.8% growth for the next decade with no signs of slowing down. Montenegro has put serious effort into creating a tourist and gambling destination known the world over.

However, not everyone is as confident in the gaming industry Montenegro has cultivated. According to the trade associatioin, the taxation that Montenegro has placed on it’s casinos and gaming halls are so steep that it has lead entreprenuers to explore easier, illegal options. The Remote Gambling Association stated that the local license operators are being swayed toward operators working on the black market. Others are hesitant to even apply for local licensing at all and choose instead to operate outside of the public market, allowing them to avoid paying the proper fees and taxes, cutting into Montenegro’s growing gaming economy.

In light of the confliction that Montenegro faces in the wake of its growing casino tourism, one of Montenegro’s cleaver endeavors has been its online gaming industry. The open online gaming laws have allowed Montenegro to offer casinos, sports betting, poker and other games online gaming licenses since 2012, though it made online gaming legal the year before in 2011. The online gaming licenses offered by Montenegro is an all inclusive turnkey operation including an online gaming platform for various methods of gambling, secure payment processing for gamblers, banking, and of course incorporation in Montenegro. There is a 9% corporate and personal tax rate and there is no minimum capital necessary to obtain a gambling license in Montenegro, making the process far less bureaucratic than in other areas that offer online gaming platforms. These gambling licenses are typically issued within on week and a business can be regisstered in as little as 48 hours. These open and easily navigated online gaming packages are yet another reason that Montenegro is steadily becoming a European leader in gambling and gaming. The cost of the all inclusive packages costs 25,000 Euross for the first year of licensing and then 15,000 Euros annually for every successive year after.

Despite what seems to be a conflict about their local licensing practices, Montenegro has taken bold steps in becoming a global hub for gambling enthusiasts. Its efforts to offer online business packages is proof of their efforts. Whether for roulette, black jack, or even simple slot machine gambling, there is no question that Montenegro is growing to be a casino location destination, both on and off the web. For vacations in the scenic mountain and beach areas or regular daily and online gaming, Montenegro seems to have its eye on being a destination for all kinds of gambling. With resorts and casinos tucked away in a beautiful corner of this Mediterranean gem and open forumss for connectivve global gaming, only time will tell if Montenegro is destined to become the new Monte Carlo.

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