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Payments company Finductive pens agreement for MoneyMatrix Payment Processing Engine

Vlad Poptamas

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Payments Fintech company Finductive has penned an agreement with Malta-based and EU licensed Financial Institution, MoneyMatrix. Through the newly signed agreement, MoneyMatrix, part of the EveryMatrix Group, will enable Finductive to offer a vast amount of Acquiring Partners through Direct Contracts or Payment Facilitator Models. Finductive is set to launch with MoneyMatrix Payment Processing Engine in Q4 2019.

 

Finductive will focus on the provision of payment gateway services and sub-acquiring services throughout specific target markets and will also provide payment account services (SEPA and SWIFT) to end users and merchants with integrated pay-in and pay-out facilities via the payment account platform.

With over 180 payment methods in more than 200 countries and 150 currencies, MoneyMatrix offers a holistic payment processing platform and risk management solution with the aim of making payments simple across the globe.

Julian Goffin, Executive Director & CEO of Finductive, commented: “It’s great to have two innovation driven companies working together to assist the market in its needs. Partnering with MoneyMatrix means that we can offer more payment solutions in many countries, a lot faster and more efficiently. We are extremely excited to join forces with them. As well as working with this top-level company, Finductive have also made other excellent partnerships to bring the best in SEPA transfers, Swift transfers & Currency conversions as well being able to offer Payment Cards.”

David Schjelde, CEO of MoneyMatrix, added: “We are delighted to support Finductive’s market launch as we have full confidence in their very skilled management team. Their vast experience within Payments, iGaming, Forex and Crypto make them perfectly suited to leverage the potential of the MoneyMatrix software and we are looking forward to contribute to their success story.”

Vlad Poptamas is a Junior Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries among which the gaming industry. Vlad has a background and possesses skills that enable him to do creative content writing and editing.

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Gambling in the USA

Caesars Gets FTC Clearance for Sale of Rio All-Suite Hotel and Casino

Niji Narayan

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Caesars Gets FTC Clearance for Sale of Rio All-Suite Hotel and Casino
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Caesars Entertainment Corp. has got clearance from the Federal Trade Commission for the sale of its Rio All-Suite Hotel and Casino to a New York-based real estate group.

Caesars announced last month that it has entered into an agreement to sell Rio All-Suite Hotel and Casino to a company controlled by a principal of Imperial Companies of New York City for $516.3 million.

The hotel and casino resort’s new owner will lease it back to Caesars for at least two years. Under their lease agreement, Caesars will pay $45 million in annual rent.

While the FTC clearance is an important step towards the finalisation of the deal, it also needs shareholder and regulatory approval from Nevada casino regulators.

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Irish Bookmakers to Get Tax Relief in 2020

Niji Narayan

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Irish Bookmakers to Get Tax Relief in 2020
Photo Source: irishmirror.ie
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Paschal Donohoe, the Finance Minister of Ireland, has confirmed that bookmakers across the Republic will not be subject to tax on the first €50,000 in wagers that they take in a year, however, will be subject to EU state aid rules.

Ireland’s independent sector has faced an up-hill battle in competing against larger betting operators such as Paddy Power, Boylesports and Ladbrokes following the doubling of the betting tax from 1% to 2% last year.

While the tax rise is expected to generate an estimated €95m in 2019, a number of independent bookmakers have had to close their doors as a result. Bookmakers are obliged to place a tax on each bet tied with them, with the levy tied to State cash which is then used to support the horse and greyhound racing industries.

The unchanged budget, according to HRI’s chief executive Brian Kavanagh, has been attributed to the ‘stand still situation’ over Brexit in which he expressed no surprise that the budget remained the same.

“All this is framed in a Brexit contest. We have long terms plans to develop the industry and they will need funding. But the main short terms issue is Brexit and in the context of the threat of a no-deal Brexit it was never going to be a year of initiatives. It’s a stand still situation. We’ll have to take this away and look at the implications for our own budget. It will make the budget process trickier and tighter. But the more immediate priority is to get the country, and the equine industry, through the next few months,” Brian Kavanagh said.

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NOVOMATIC Appoints Robert van Roosendaal as its Key Account Director

Niji Narayan

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NOVOMATIC Appoints Robert van Roosendaal as its Key Account Director
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NOVOMATIC has appointed Robert van Roosendaal as its Key Account Director for Germany, BENELUX, Iceland, Portugal and France. Robert van Roosendaal is a gaming industry expert with many years of sales experience.

Robert van Roosendaal is now responsible for the distribution of the complete portfolio of casino products in Germany, Iceland, Portugal, the BENELUX countries and France. He reports into Jens Einhaus, VP International Sales, Europe and The Americas.

“With Robert van Roosendaal we have been able to assign this key position – especially in the German and French casino markets – to an expert with extensive sales experience as well as excellent market and product knowledge,” Jens Einhaus said.

Robert van Roosendaal joined NOVOMATIC AG in 2016. After a number of sales-related projects, he was most recently Senior Manager Global Sales for Emerging Markets. Prior to joining NOVOMATIC, he held senior sales positions with renowned manufacturers in the casino industry.

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