Connect with us

Latest News

Tax hike worries the Panamanian industry

George Miller

Published

on

Tax hike worries the Panamanian industry
Photo credits: Trump Hotels
Reading Time: 1 minute

Panama’s gambling industry hit by a 5.5% consumption tax is starting to have effect on the local casinos as objections rise across the nation. Local casinos and the entire Panamanian gaming industy is having a hard time due to the 5.5% consumption tax as they are starting to loose benefits from operations. The industry recorded a 2.9% drop on the year-on-year revenue last year, the only exception being Codere who reported an extraordinary income.

[The consumption tax] is totally absurd and unfair to say the least and is affecting players’ willingness to attend casinos,” said Antonio Alfaro, president of Panamanian trade body ASAJA, adding: “No one in their right mind would look favourably on a levy that does not apply to players’ winnings, but solely their intention to play.

As Panama pursues its dream to place itself as a possible portal to LatAm for the Chinese tourists, this tax hike is seriously influencing the gambling industry’s achievement with offshore players. “The greatest impact has been seen in table gaming participation, which is the preferred form of gambling amongst tourists,” Alfaro stated, arguing that tourism won’t benefit casinos as long as the levy stands at 5.5 per cent.

We consider that it’s time to put a stop to this, to establish a moratorium on further casinos, and to not authorise any further licences for however long is prudent,” he said and asserted: “The government should rescind the 5.5 per cent tax – at least for table games – in order to stimulate the tourist market and to permit the casino industry the chance to recover.

 

Source: focusgn.com

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.

Continue Reading
Advertisement
Comments

Industry News

Bryke launches Link King in Spain

Niji Ng

Published

on

By

Bryke launches Link King in Spain
Reading Time: 1 minute

 

Bryke, the video slots brand of Zitro, the famous  Luxemburg-based gaming company, has launched its highly successful flagship product in Spain: Link King, a unique and innovative type of game that is not like any other games available in Spain.

Link King offers impressive new features: 4 spectacular levels of progressive jackpots that are frequently granted through the bonus game, increasing the chances of winning. In addition, prizes are linked between terminals, raising their value and the player’s excitement. Spanish players can enjoy a different way of playing never before seen in Spain and already present in the best casinos in the world.

The staging of LINK KING is impressive thanks to the new FUSION cabinet that stands out due to its advanced technology and “Ultra Slim” design, occupying less space than any other piece on the market and offering the player greater comfort.

The combination of LINK KING and FUSION will transform Spanish lounges into a game show that will appeal to both the operator and player, just like what’s happening in international markets.

Continue Reading

Asia

RTG launched a new game, called I, Zombie

Niji Ng

Published

on

By

RTG launched a new game, called I, Zombie
Reading Time: 1 minute

 

RTG Asia, the Philippines-based gaming company, has launched a new game called I, Zombie, which is a five-reel, 25 line game. It features Amy, a gorgeous zombie killer.

“The zombie epidemic continues, but now it’s taken a personal toll: Nancy has turned! Her beautiful blue eyes have gone red, her carefully manicured nails have grown into claw-like things. She might be the WORST kind of zombie — still so sexy, so attractive, so deadly. You have to see her! And, as in life, so WILD. And she is your WILD too. You may even see two more her appear and they’ll jump across the reels… not to kill you but to help you win more,” – commented RTG Asia.

“Maybe if she could see herself in the mirror she could change back… would that help? Could that help? It’ll certainly help YOU: when you get three mirrors – the game’s scatter – you get free spins. Get four mirrors and your free spin prize doubles. Five mirrors, it trebles,” it concludes.

Continue Reading

Gambling in the USA

William Hill US seeks modifications in regulations

Niji Ng

Published

on

By

William Hill US seeks modifications in regulations
Photo Source: sbcnews.co.uk
Reading Time: 1 minute

 

William Hill US has written a letter to the Nevada Gaming Control Board (NGCB) seeking modifications in current regulations so as to eliminate some technical glitches. This is after FanDuel paid out on an erroneous ticket that allowed the ticket holder to win US$82k in New Jersey.

It is learnt that William Hill US mainly asked the power for the Chair to use discretion in rescinding bets where an obvious error had occurred, such as wrong pricing. “This would address the situation that occurred recently in New Jersey where an operator issued a wager on a football game at a price that was obviously incorrect,” reads the letter.

Sylvia Tiscareno, general counsel of William Hill, testified during NGCB’s meeting this week and said that the request comes after several internal discussions. The panel at the meeting decided to consider the testimony before making a decision.

Continue Reading
Advertisement
NSoft
Advertisement
BetConstruct

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author

Trending

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.