Connect with us
SIS

Latest News

Switzerland’s online gambling law gains momentum to survive referendum

Niji Narayan

Published

on

Photo credits: https://focusgn.com
Reading Time: 2 minutes

Switzerland’s voters seem to be in a mood to support the gambling law that would restrict online gambling to sites operated by local land-based casinos, while banning the domains of other operators.

A recent survey of 1201 adults conducted by GfS Bern revealed that 52 per cent of respondents are ready to support the country’s new gambling law when a national referendum is conducted on June 10. Around 39 per cent intend to vote ‘no’ while a mere 9 per cent remain undecided.

Swiss legislators had already approved the new gambling law, which requires would-be online gambling operators to partner with local brick-and-mortar casino operators.

Swiss internet service providers would be required to block the domains of internationally licensed online operators that continue to serve Swiss gamblers without local authorisation.

However, the youth wing of the Free Democratic Party (FDP) managed to garner enough petition signatures to force a national referendum on the legislation. Local telecom firms and civil libertarians have joined the campaign to strike down the law but it appears that their efforts are coming up short with Swiss voters.

Support for the legislation is strongest among women, older people and residents of Switzerland’s French- and Italian-language regions. GfS Bern co-director Lukas Golder told SwissInfo.ch that “there is potential for a protest vote” but the law’s opponents “have focused too heavily” on the censorship issue.

The referendum campaign has featured tit-for-tat accusations of impropriety, with one “no” parliamentarian claiming he was offered a board seat with a casino operator if he would change his vote, while the casinos claim international gambling sites are underwriting the “no” campaign.

SWISS CASINOS BOSS OKAY WITH ONLINE TAXES

The casino executive who made that offer to the parliamentarian was Swiss Casinos Group CEO Marc Baumann, who this month told the Berner Zeitung media outlet that he wasn’t trying to “buy” the parliamentarian’s vote but says he now recognises that he “should have made the request only after the referendum.”

Asked why Switzerland shouldn’t let international online operators simply apply for local licenses without having to partner with a local casino, Baumann said he “cannot imagine that they are interested,” in part because “the levies that the federal government plans are the highest in Europe.”

On March 2, Switzerland’s Federal Council opened a consultation on its new gambling rules. Among the subjects up for discussion is the proposed online tax rate, which starts at 20 per cent for the first CHF3m (US$3m) of revenue, rises to 40 per cent on revenue up to CHF10m, then rises incrementally for every CHF1m above that, capping out at a maximum 80 per cent rate.

At those nosebleed rates, it is perhaps not surprising that the government expects to raise an annual CHF40–75m from online gambling taxes (from a population of less than 9m people). The Federal Council’s consultation concludes June 15, assuming voters vote “yes” five days earlier.

Despite this onerous online tax burden, Baumann said his Swiss Casinos Group remains interested in launching online gambling services. The Group currently operates a free-play casino site, Swissonlinegames.ch, and is “currently examining cooperation with a foreign company that has experience” in the real-money online sector.

Baumann insisted that this prospective partner is not a company that currently serves Swiss punters, because only companies with “a perfect reputation” will be allowed to operate under Switzerland’s new regime.

 

Source: calvinayre.com

Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

Continue Reading
Advertisement
Comments

Latest News

EGT Interactive is circling back to Budapest with a special participation at CEEGC

Zoltan Tundik

Published

on

Reading Time: 1 minute

 

EGT Interactive is thrilled to announce its consecutive appearance at the Central and Eastern European Gaming Conference and Awards (CEEGC). Georgi Dimitrov, Head of Legal & Compliance at the company, will be once again joining the discussions as one of the speakers at this special event. He will participate in the panel titled “Regulated Central and Eastern European jurisdictions” focusing on the evolution of clearly regulated markets. The targeted jurisdictions are Bulgaria, Romania, Czech Republic, Croatia and Slovenia.

Georgi Dimitrov has started his career in EGT Interactive as a legal counsel, with a focus on legal, regulatory and technical compliance matters related to the iGaming industry. He specializes in international gambling regulation and provides guidance on licensing and certification frameworks, policy drafting, and compliance processes. His line of work involves communication with focal stakeholders in the business such as testing labs, regulators and operators. He has background in company structuring, M&A, business and corporate development and extensive expertise in competition law. Recently he became Head of the “Legal and Compliance” department at EGT Interactive.

 

The event will take place on the 24th of September at Ritz-Carlton, Budapest, Hungary.

Continue Reading

Latest News

Week 38 slot games releases

George Miller

Published

on

Week 38/2019 slot games releases
Reading Time: 3 minutes

 

Have a look at this week’s latest slot releases!

We begin with another release from Play’n Go, the fun-filled game Mission Cash. The game has its roots in the spy films and TV series of the ‘50s and ‘60s, taking inspiration from classics such as The James Bond Series and The Man from U.N.C.L.E, but also newer titles like Austin Powers and Kingsman: The Secret Service.

Play’n GO Are on a Mission with their Newest Release

 

Realistic Games has added a new 3-reel version of its popular title Fireworks to its ever-growing portfolio of games. Fun Size Fireworks retains the featurewhich has been a proven success with players of the 5-reel version, with a bonus round that is reached when a player gets stacked symbols on each of the 3 reels. A reel will then be randomlyselected and a win of one or more win lines will be achievedoffering the player a maximum jackpot ofx250 their starting stake.

Realistic - Fun Size Fireworks

 

Yggdrasil is under starter’s orders to release its latest slot, Racing Lovers, with players invited to saddle up for their biggest thrill ride yet as they chase the championship trophy for huge rewards. Ladies and gents, hold onto your hats as the starting gates open and the racing begins in this new immersive slot set in the fastest course of them all.

Yggdrasil’s latest slot Racing Lovers

 

Microgaming has launched its latest online slot Tweethearts, developed exclusively by Just For The Win. Set in a colourful paradise, nesting love birds bring their feathered mystique to this exciting five-reel, 17-payline slot. Players entering the beautiful jungle of paired-up parrots will find the Double Lucky Line, present throughout the game, perched on the middle row across all five reels. When double symbols land on the Double Lucky Line, they are counted as two symbols for any winning combinations or free spin symbols.

Microgaming - Tweethearts

 

Stick ‘Em, a 5×4 video-slot follows Canny the Can on an adventure which includes features such as sticky win spins, free spins with high paying symbols and an exciting bonus wheel with three levels of progression! Marcus Codes, COO at Hacksaw Gaming commented:“We’re delighted to release our very first slot today after being exclusive with Leo Vegas for the past 2 weeks. We have seen fantastic numbers and feel Stick Em will be a great hit within the industry. There is more to come from Hacksaw, this is just the beginning.”

Stick'em - Hacksaw Gaming's Very First Slot Release!

 

Pariplay Ltd., a gaming technology company serving iGaming operators, land-based casinos and lotteries, has announced the Swedish release of its Viking Glory online slot via an exclusive partnership with Svenska Spel Sport & Casino.

Pariplay Partners with Svenska Spel Sport & Casino for Swedish Release of ‘Viking Glory’ Slot

 

Kindred Group has partnered with Play’n GO in an exclusive release of Troll Hunters 2, the sequel to the record-breaking first chapter of the Troll Hunters saga. “Kindred has recently invested heavily in the quality of their exclusive games. We believe that product quality is ultimately what customers will recognize and value. This is what will set us apart from the competition and lead the way forward in casino,” Ale Rallo, Games Development Manager of Kindred Group said.

Troll Hunters 2 Launches on Kindred Platforms

Continue Reading

Gambling in the USA

Sports Betting Bill of Michigan Moves Forward

Niji Narayan

Published

on

Sports Betting Bill of Michigan Moves Forward
Reading Time: 1 minute

 

A sports betting bill would allow organised sports betting in Michigan casinos and online was passed out of a state house committee. State Representative Brandt Iden of Kalamazoo is sponsoring the legislation.

“Because this is already going on in the market place so we can protect those people who want to play and want to play legally, and we can, you know, make the state a little bit of money, which I think is also a positive,” Iden said.

Iden hopes the bill continues to make its way through the legislature and onto Governor Gretchen Whitmer’s desk before Superbowl season.

Continue Reading
Advertisement
NSoft

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

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

Notice for AdBlock users

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