Fabio A. Bufalini, Country Director of Stake Italy, reveals why the current shift in the regulatory landscape in Italy is moving the country to a “more robust, transparent, and tightly regulated gambling environment”.

He also provided his perspective on the Dignity Decree and why it hasn’t worked, as well as what operators should do to replace it in the spirit of safeguarding players. 

iGaming Expert: Can you provide us with an oversight of the current shift in the framework in Italy when it comes to gambling?

Fabio A. Bufalini: Italy launched a new nine‑year licensing regime with a New Online Gambling Tender. Each license costs €7m upfront, a dramatic 35‑fold jump from the previous €200,000 fee. The overhaul is expected to shrink the number of active operators drastically. Only big names have applied for a total of 46 applicants compared to actual licensee operators that are more than double. The main changes with the new tender are:

• Enhanced technology standards: All licensed platforms must integrate with ADM’s central system for real‑time transaction monitoring, AI‑powered compliance, and tamper‑proof logging.

• No more “skins”: The licensing model now mandates a strict one-domain-per-license policy, effectively eliminating multi-brand/skin-based models used by many operators.

• Interagency enforcement: ADM has formalised cooperation with the Police to bolster oversight, improve enforcement efficiency, and combat tax evasion and illicit activity.

• Italy’s 2018 Dignity Decree banned all gambling advertising. ADM and the Senate’s Culture Commission are now reviewing this prohibition, aiming to modernise advertising rules to strike a balance between consumer protection and legal market visibility. Industry voices argue the total ban has inadvertently fueled the black market, as licensed operators struggle to stand out.

These changes collectively signal Italy’s move toward a more robust, transparent, and tightly regulated gambling environment—one that reinforces operator accountability, boosts consumer protections, and encourages market integrity.

iGX: What opportunity does the current transition of the Italian iGaming market represent for operators?

FB: The current transition in Italy’s iGaming market presents substantial opportunities for operators who are able to meet the new regulatory and operational requirements. Here’s a clear breakdown of the key advantages: Long-Term Stability & Market Positioning: The introduction of a nine-year licensing framework offers unprecedented regulatory predictability. Operators can invest with confidence and build sustainable operations over nearly a decade and a Digital “natural selection” has begun: the high entry barrier of €7m per license ensures fewer, but more robust, licence holders.

iGX: Given the number of licence applications received by ADM, do you expect there to be significant consolidation following the market opening, and who do you believe will be active in any potential M&A activity?

FB: Industry consolidation is underway – forecasts suggest active licensed operators could drop from 80+ to around 30–35. For those who secure a license, there’s a clear path to securing a large share of Italy’s increasingly lucrative iGaming market — projected to surpass €5.5 billion in gross gaming revenue. 

Operators integrating both online and land-based channels are better positioned to capture shifting demand as customers migrate to digital formats.

iGX: How can operators in the Italian market safeguard their operations to ensure they are not unduly impacted by future regulatory changes?

FB: To safeguard operations and remain resilient amid ongoing and future regulatory shifts in the Italian iGaming market, operators should take a proactive, compliance-first approach anchored in legal readiness, technology adaptability, and stakeholder alignment. Market overhaul means stronger focus on responsible gaming, AML, and consumer protection. Operators aligned with these priorities can elevate their brand as trusted and compliant

iGX: Flutter Entertainment and Lottomatica appear to be fighting to lead market share in Italy. Who do you believe will ascend to the top spot, and why, in such a competitive market?

FB: The market is very mature and competitive, as mentioned it is consolidating and more and more large operators will become the protagonists of the market and only those who are able to compete by innovating with new products and new gaming experiences will survive, at the same time the market is very large and will continue to grow so there will be opportunities for everyone.

iGX: What would the overturning of the Dignity Degree mean for the Italian gaming market?

This is a very interesting question. It’s now clear that the Dignity Decree, with its advertising ban, hasn’t produced the desired effects. It’s no coincidence that illegal gambling has grown significantly in recent years. 

I’m convinced that if this were to happen, we operators should be the first to protect consumers by establishing clear and reliable rules to avoid a return to the previous ban, while also ensuring that advertising is constructive. The new rules for the new tender, which oblige operators to invest in responsible gaming advertising, are a good first step. Now, the entire structure that blocks advertising must change, making legal operators less attractive to consumers and encouraging the spread of illegal and unprotected gambling.

iGX: Can you tell us more about the importance of the SBC Summit and what you are looking forward to learning from the event?

FB: The SBC Summit is widely recognised as one of the most important global gatherings for the betting and iGaming industry, bringing together key stakeholders, innovators, regulators, operators, affiliates, and suppliers. This is my first year participating, so I expect to find everything I mentioned, and I’m sure it will be one of the most important events of the year as we continue to consolidate the stake.it product, which we will soon launch in the Italian market.

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