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Italy mulls sports betting tax hike / Paddy Power gives Italy the boot

George Miller

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Italy mulls sports betting tax hike; Paddy Power gives Italy the boot
Reading Time: 2 minutes

Italy’s sports betting operators could face higher taxes on both land-based and online operations if legislators get their way.

Nothing is carved in stone, but early drafts of Italy’s 2018 national budget suggest sports betting tax hikes are in the works. The proposals would see land-based betting taxes raised one point, from 18% to 19%, while online betting tax would increase from its current rate of 22% to 23%.

Italy’s Ministry of Finance is reportedly also considering an option that would harmonize online and land-based sports betting taxes at 21%, while hiking fees on each land-based gaming outlet by a couple thousand euros.

Italy last revised its online sports betting tax regime nearly two years ago, replacing the widely despised tax on betting turnover that operators found incompatible with profits. Since that change, along with a significant expansion in the types of legal wagering options, Italy’s online sports betting market has routinely posted double-digit year-on-year monthly revenue gains.

The budget draft also proposes extending all current betting concessions through the end of 2018 in order to give regional governments time to adapt their local rules to the ongoing revamp of the land-based gaming industry, which includes significant reductions in the number of permissible slot machines and video lottery terminals.

 

PADDY POWER GIVING ITALIAN PUNTERS THE BOOT
Meanwhile, UK-listed betting operator Paddy Power Betfair has announced plans to withdraw its Paddy Power brand from the Italian market. The decision was reportedly the result of Paddy Power’s early-2016 merger with online betting exchange Betfair.

After discussions with Italy’s Customs and Monopoly Agency, Paddy Power has decided to renounce the concession it was granted in 2012. The company’s Power Leisure Bookmakers Limited subsidiary says Italian punters will no longer be able to access the PaddyPower.com website and the company will close its PaddyPower.it site this December.

The Paddy Power Betfair group will continue to operate in Italy via its Betfair Italia offshoot, and Paddy Power’s Italian customers will receive further updates on the situation via their online accounts.

George Miller started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Gambling in the USA

Delaware North Sues Miomni Gaming Over Fraudulent Claims

Niji Narayan

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Delaware North Sues Miomni Gaming Over Fraudulent Claims
Photo Source: hhlarchitects.com
Reading Time: 1 minute

 

Delaware North, the US based casino operator, has filed a lawsuit against its sports betting joint venture partner Miomni Gaming.

The operator is seeking monetary damages through the suit filed in the Chancery Court of Delaware, including Miomni’s 49% stake in the BetLucky joint venture, which the supplier is apparently refusing to give up. The joint venture was made to launch the BetLucky sports betting platform. Delaware North then terminated the contract earlier this month.

The operator claims Miomni made fraudulent claims to induce it to enter into a joint venture, as well as of wilfully breaching a limited liability company agreement governing the operation of BetLucky.

Delaware North claims that Miomni and chief executive Venner repeatedly claimed to own intellectual property rights to the platform, including the source code for the front end and back end of the platform.

 

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Central Europe

Superbet Submits Application for Online Betting License in Poland

Niji Narayan

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Superbet Submits Application for Online Betting License in Poland
Photo Source: picswe.com
Reading Time: 1 minute

 

Last week, the Romanian gambling giant Superbet submitted an application to the Polish  Ministry of Finance for a license to organise bookmaker bets via the Internet.

Superbet has been running bookmaking activities in Poland since 2017. The betting shops of the bookmaker stand at a very high level, but everyone knows that the real strength lies in online betting. It remains to be hoped that “online” will look just as good.

Everything seems to indicate that after several months of expectations, Superbet will launch online sales in Poland. The platform has been adapted to the requirements of the Polish regulator and if everything goes as planned, the company will offer its services online at the end of the year.

 

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Latest News

Red Rake Gaming travels to the Silk Road with Marco Polo in a new release full of excitement and adventure

George Miller

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Red Rake Gaming travels to the Silk Road with Marco Polo in a new release full of excitement and adventure
Reading Time: 1 minute

 

Innovative casino gaming provider Red Rake Gaming has just launched a new 5×3 reel videoslot that takes players on a journey through Europe and Asia with Marco Polo.

Starting in Venice, Marco Polo’s hometown, the players must reach the free spin feature in order to begin the journey along the Silk Road and increase their winnings.

Powerful Yin Yang symbols lead the player to an interesting choice: choose between a direct win awarded by an exciting abacus or direct entry to the free spins feature. The Marco Polo symbol is also Wild and replaces all the symbols including Yin Yang, which gives the player many more chances to win.

Within the free spin feature is where the player begins to travel across the map getting more spins and new multipliers.

An interesting videoslot with a very careful design that will be presented together with the most outstanding Red Rake Gaming games at the G2E Asia trade fair (Stand D1829) from the 21st to the 23rd of May, 2019.

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