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Spain provides tax cuts for online gambling

Niji Ng

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Spain provides tax cuts for online gambling
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Spain has reduced tax rates for online gambling operators in the country. The gambling industry, quite predictably, has hailed the move and termed it as an “absolutely fantastic” news.

The tax cut was announced in the recently presented 771-page annual budget.  The budget has several tax reductions for online gambling operators, most importantly a 5 per cent reduction in gross gaming revenue, slashing the tax rate from 25 to 20 per cent.

The tax cuts will fuel profits and subsequent growth in the country’s booming online gambling sector. The Dirección General de Ordenación del Juego (DGOJ), Spain’s gambling regulator, recently reported a 27 per cent year-on-year increase in online gambling revenue for the first quarter of 2018.

Santiago Asensi, managing partner of Spanish gaming law firm Asensi Abogados, told iGamingBusiness.com that the new tax regulations will be “good news for everyone”, including the government coffers, which he believes will benefit from a hike in the tax take.

Operators will be able to make better offers to the players who will not go to illegal markets,” he said. “The latest figures from the DGOJ show that all areas of online gambling are expanding, particularly with sports betting and online casino games, so I believe that these new measures will also lead to more tax being collected.

Although the DGOJ has been lobbying the Spanish government for many years to reduce tax rates for online operators, Asensi acknowledged that it would have been “politically very difficult” to introduce such changes at a time of severe austerity across the broader economy, which endured a savage downturn during the global financial crisis.

However, with the economy having expanded by 3.1 per cent in 2017, driven by a significant increase in exports, Spain’s Ministry of Finance has found the right time to bring in the changes, buried in a lengthy document alongside hundreds of other budget decisions.

The DGOJ has been working very hard to reduce the rate for years, but if a party had announced plans to reduce taxes for online gambling companies while asking for sacrifices from the general population, it wouldn’t have got many votes,” Asensi added.

However, now the Spanish economy has recovered, it is the right time.

The five per cent cut will apply to online fixed-odds betting and sports betting, fixed-odds horse racing, betting exchanges and online casino games, bingo and poker.

Companies located in the tiny Spanish enclaves of Ceuta and Melilla on the northern shores of Morocco’s Mediterranean coast will continue to be taxed at 10 per cent of online gross gaming revenues.

The tax rate on pari-mutuel sports betting gross gaming revenue was also cut from 22 to 20per cent, bringing the rate in line with state-owned betting services.

However, the tax rate for pari-mutuel horse racing and pari-mutuel pool betting gross gaming revenues has been increased from 15 to 20 per cent.

The changes were effective from July 1 and have been widely welcomed by companies with interests in the Spanish market who have long argued that the tax rates for online operators have been prohibitive. It emerged in April that Spain’s Congress of Deputies, the lower house of the national government, were looking at slashing tax rates for gambling operators.

 

Source: iGamingBusiness

Niji 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. Besides reporting industry headlines from all around the globe, Niji is also head of the content management team at Impressions Content Management, based in Kerala, India, which offers writing and editing services to clients around the world.

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Industry News

Novomatic signs deal with Casino di Venezia

Niji Ng

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Novomatic signs deal with Casino di Venezia
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Novomatic has signed an agreement with Casino di Venezia for developing slot machines and software. As per the agreement, Novomatic will develop software for the entire slot park in the two venues of the Venetian Casino, Ca` Vendramin Calergi, a 16th century historic building overlooking the Grand Canal, and Ca` Noghera, a modern venue located near Venice airport.

Novomatic Chief Operating Officer DI Ryszard Presch said: “With Casino di Venezia, we have gained an important partner who shares our dedication to expanding the range of services available to players and operators. For this reason, we constantly work to improve the gaming experience, so that the time spent at the Casino is more efficient and safe.”

Alessandro Catarossi, General Manager of Casino di Venezia said: “The new software, which will be installed in the medium and long term on a fleet of more than 600 machines, will enhance the services available to our customers and will help to make the slot machines even more efficient and secure.”

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AGEM inducts six more members

Niji Ng

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AGEM inducts six more members
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The Association of Gaming Equipment Manufacturers (AGEM), an international trade association of gaming suppliers, has inducted six new companies. The association’s board of directors approved the membership of the new applicants. With this, the membership rose to 172 members.

The six new AGEM members are the following:

1. Acuris Risk Intelligence: Based in London, Acuris Risk Intelligence combines expert human analysts and state-of-the-art technology to help organisations manage risk in business relationships effectively;

2. CS-1 Transportation: a logistics provider based in Burlington, Ontario, Canada, with offices in Phoenix and Las Vegas. CS-1 specialises in the secure transport and movement of gaming equipment;

3. Eclipse Gaming: headquartered in Duluth, Georgia, Eclipse Gaming develops slot games and innovative solutions to engage the audience and deliver measurable results for its partners;

4. Fennemore Craig, P.C.: A law firm with a strong gaming and hospitality practice and a history of representing casino operators, tech companies and investors. Based in Phoenix with offices in Reno and Las Vegas;

5. Global Gambling Guidance Group (G4): Dutch-based G4 offers international accreditation and certification of responsible gambling standards for the global gambling industry; and

6. NRT Technology Corp.: a Toronto-based firm that designs and develops next-generation payment systems, financial and marketing kiosks and digital and mobile services.

 

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Blueprint Gaming integrates slots portfolio with SBTech

George Miller

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Blueprint Gaming integrates slots portfolio with SBTech
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Sports betting supplier significantly enhances casino offering

 

Leading slots developer Blueprint Gaming has further expanded its global reach after integrating its portfolio of games with sports betting solutions specialists SBTech.

As part of this new partnership, SBTech’s fast-growing operator network will now have access to one of the industry’s most diverse range of games for the first time.

Popular Blueprint releases such as Fishin’ Frenzy, King Kong Cash and Wish Upon A Jackpot, as well as its increasingly sought-after range of Megaways™ titles, under license from Big Time Gaming, have all been seamlessly integrated onto the SBTech platform.

This latest deal marks another important step in Blueprint Gaming’s strategic ambitions to increase its international footprint across the global gaming industry.

Siôr Walbyoff, Head of Business Development at Blueprint Gaming, said: “Partnering with SBTech gives us reach into new territories and customers across Europe, further solidifying our position as a premier content supplier across the iGaming industry.

“We’re excited about launching our latest content across the SBTech customer network.” 

Andrew Cochrane, Chief Development Officer of SBTech, said: “We’re delighted to add yet more leading casino content to our platform with our partnership with Blueprint Gaming and look forward to launching its core product content across our network of platform partners.

“The addition of branded games, such as Ted and Thundercats, along with its top performing Megaways™ titles, will complement our existing product offering and drive further casino revenue growth for our partners.”

 

About Blueprint Gaming

Blueprint Gaming is a leading UK based game studio and part of Germany’s Gauselmann Group. It creates exciting slot games for the global online and mobile markets and its games are also available to be played on over 100,000 land-based gaming terminals across the UK, Germany and Italy.As well as its original content, which has become hugely popular, it has developed successful slots based on a broad range of third party brands, offering players familiarity and operators unique marketing opportunities. Blueprint Gaming design and development team strives to push creative boundaries in the creation of slots that are as successful for its operating partners as they are entertaining and engaging for its players.

Blueprint is licensed to develop and supply online games by the UK Gambling Commission and Alderney Gambling Control Commission. The company’s slot release The Goonies picked up the “Game of the Year” crown at the Gaming Intelligence Awards 2019.

 

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