Latest News
Threatened by escalating gaming taxes, 888 Holdings considers quitting the market

With the government of Germany acceding an escalation on gaming taxes’ regulation, 888 Holdings, one of the world’s most popular online gaming operators and platform providers is excogitating on quitting the market.
The company explicated in a statement to Reuters that, tighter regulations have threatened its operations and a tax liability nearly halved its 2017 core earnings. As informed by the international press, in October the German Federal Administrative Court confirmed a ban on three types of online gambling namely – casino, poker, and scratch cards – a ruling that 888 said it may appeal to the Federal Constitutional Court, adding that it was “assessing the status and breadth of its offerings in the German market.”
Last December, Novomatic dropped plans for a €5 billion initial public offering on the Frankfurt bourse due to unclear regulation regarding gambling halls in one of its core markets, Germany. Meanwhile, 888 Holdings’ share price was down almost 5 percent after the company posted a 48.2 percent fall in earnings before interest, taxes, depreciation and amortisation to near €33.5 million. 888 Holdings put that down to a €36.9 million provision related to potential value added tax (VAT) on services in Germany prior to 2015.
-
Interviews6 days ago
Why crash has become big business for operators and suppliers
-
Asia5 days ago
BETBY TRIUMPHS AT SiGMA ASIA MANILA, WINNING BEST ESPORTS PROVIDER AWARD
-
Latest News6 days ago
Veikkaus Enters into Long-term Partnership with Jokerit
-
Balkans6 days ago
Evoplay partners with Palms Bet to strengthen Bulgarian presence
-
Compliance Updates6 days ago
Lukashenko Says Gambling Establishments Should Introduce Moratorium on Gaming in Debt
-
Interviews5 days ago
Bet Builder Q&A w/Abelson Sports’ CBO Jeevan Jeyaratnam
-
Conferences in Europe5 days ago
WiseGaming ready to showcase agile platform at SBC Malta
-
Latest News5 days ago
Oddschecker Announces Key Grid Position Updates