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UK Point Of Consumption Tax On Gambling

Legal action not out of the question
The British Government's plan to implement a "Point of Consumption" tax on online gambling operators understandably has the Gibraltar Government concerned says a report appearing in the Gibraltar Chronicle.
Gibraltar's gaming industry provides a key income stream to the territory and provides employment to close to 2200 as well as an additional 3000 jobs to citizens in financial services.
Chief Minister Fabian Picardo has reportedly reminded the British Government of the liability it would face if one of Gibraltar's key income streams is slashed.
The report says that leading figures of Gibraltar's gaming industry, with the support of the territory's Government, are taking steps that may include legal action in a bid to protect Gibraltar's gaming industry.
Maria Brennan of HM Treasury is reported to be in Gibraltar for discussions around the issue while attending the eGaming Summit opened this week.
Gaming Minister Gilbert Licudi, who opened the Summit, has openly opposed any move regarding the implementation of a British secondary licence for Gibraltar-licenced operators servicing the UK market saying they are already protected by Gibraltar’s strict licensing and supervision regime, “our regulation is second to none, it is as high, or higher, than in the UK,” he said earlier this year.

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Gambling News :

Phil Ivey Loses Borgata Casino - Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.

NYX Gaming in deal with Endemol - "Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”

NEW CAMBODIAN GAMBLING LAWS - After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.

Congress To Review US SportsBetting Restrictions - Did the American Gaming Association’s campaign influence the decision to take another look at the 1992 Professional and Amateur Sports Protection Act?

Playtech Acquires ECM Systems - Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.

Marks and Spencer store Manager steals to Gamblie Online - The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.

Chinese Gambling crackdown could damage high roller revenue - Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.

EvenBet Open Face Chinese Poker - Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

2016 EPT Malta - The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.

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