The Swiss Department of Justice and Police on Wednesday said the country should relax its existing restrictions on Internet gambling and issue licenses to a limited number of operators.
In March 2007, the Federal Council -- Switzerland's seven-member head of state -- instructed the Justice Department to prepare a report examining whether the country should ease a prohibition on Internet gambling.
That report -- loosely translated as "Consideration of whether to relax the ban on using an electronic communications network for the operation of gambling" -- was completed on March 31, 2009.
Among other things, the report recommends that future license holders limit their offering to Swiss residents, exclusively, and that gambling licenses for other mediums -- including interactive television, telephone and mobile telephones -- should not be issued.
The report also calls for tighter legislative measures by which to police illegal Internet gambling.
With regard to potential tax revenue, the report said as much as 26 million Swiss francs, or $22.4 million, could be generated annually.
More on this story to come.
To view the Justice Ministry's report in French, German or Italian, click here.
To view an unofficial English translation of the report, click here