Timor-Leste Grants First Offshore Gaming License
Golden River Universe (GRU), a subsidiary of online lottery provider GD Lotto, has received the first offshore gaming license in Timor-Leste.
LISTEN TO THIS ARTICLE:The concession allows GRU to operate the island's first offshore gaming operation under the supervision of the Inspectorate General of Gaming (IGJ).
The license was officially signed by Vice Prime Minister Francisco Kalbuadi Lay, Minister Coordinator for Economic Affairs, following months of joint efforts by government officials and the IGJ to establish a framework that meets international standards.
GRU says the approval will allow it to transform Timor-Leste into a leading and reliable digital hub for offshore gaming, compliance, and innovation, similar to Malta in Asia.
The development builds on the operator's existing partnership with the State Government of Oecusse to develop the TOGOS Hub, an offshore gaming operations center expected to deliver new infrastructure, skilled jobs, and foreign investment into the country.
Following this milestone, GD Lotto has announced that it will relocate its research and development, customer service, and global support teams from Cambodia and the Philippines to Timor-Leste.
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Casino and Digital Growth
By issuing the license, Timor-Leste takes a step further towards diversifying its economy and developing its digital sector. The nation is also moving forward with its plans to open its first-ever casino.
In February, lawmakers signed an agreement with Asia-Pacific Strategic Investments Ltd (APS) to develop a $60 million casino resort. When it launches, the casino would become Timor-Leste's first land-based gaming hall.
Following 400 years under Portuguese administration, Timor-Leste, commonly referred to as East Timor, became an independent nation in 2002.
Although the country is one of the poorest in Asia, its young population makes it an attractive location for iGaming operations.
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