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Pokerstars closing to Austrian players

March 1,2016 : TAX CONCERNS PROMPT POKERSTARS' EXIT FROM AUSTRIAN MARKET
 
Effective today, Pokerstars.fr withdraws.
 
Austrian players using the French-regulated version of Pokerstars at Pokerstars.fr have been advised by the company that effective March 1st the site will be closing its virtual doors to Austrian players.
 
In a message to Austrian players, the online poker company advised:
 
"We are writing to inform you that, due to the latest change in legal framework in Austria, starting at 10:00 ET on March 1 we will stop allowing players based in Austria to play on the PokerStars.fr site.
 
"Your PokerStars.fr account will remain open and accessible, and your funds can be withdrawn at any time to your registered bank account. Any tournament tickets or T€ balance will automatically be converted into Euro when you visit the cashier.
 
"You are welcome to use your StarsCoin to purchase cash rebates or any other items from the VIP Store, with the exception of online tickets. Please also be informed that your real money and StarsCoin balances cannot be transferred between accounts on different licenses."
 
The announcement unleashed a barrage of message board speculation, prompting the company later to add the following information:
 
"On January 1, 2016, PokerStars started paying gaming duty taxes to the Austrian Government for play on PokerStars.FR by players who had a registered address in Austria.
 
"This additional tax was in addition to the tax that PokerStars was already paying to the French government for play by all players on PokerStars.FR.
 
"It was unsustainable for PokerStars to pay double tax – to both the Austrian and French Governments – for play by Austrians on PokerStars.fr. Consequently, we have little choice, and need to stop allowing players with a registered address in Austria to play on PokerStars.fr."
 
With a punitive 37 percent tax rate on GGR in France, and a 20 percent Austrian tax on gaming transactions, the company apparently had little alternative but to call it a day in Austria.
 
In doing so it emulated its decision in late 2014 to withdraw from the United Kingdom at the prospect of a 15 percent point of consumption tax on online gambling, which is already hammering the profitability of major companies like William Hill and Ladbrokes

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Gambling News :

Pokerstars Now Lead Sponsor of Global Poker League - Alex Dreyfuss Global Poker League has received a significant boost from the announcement by Dreyfuss Mediarex Sports and Entertainment company Friday that online pokers biggest operator, Pokerstars, has signed on as lead and exclusive GPL sponsor.

Betconstruch invests in Ucrafts - BetConstruct may have also been attracted by the obvious interest in Ucrafts business - the start-up has already gained 5,000 subscribers in just a few months of commercial activity.

Plus500 Founders Selling Off Shares - Alon Gonen and Gal Haber respectively sold 7.2 million shares, retaining a 10.4 percent interest in the company; and 2.6 million shares, retaining a smaller stake of just 3.6 percent.

Rush Golf Live Launches - Virtual sports provider Inspired Gaming has announced the launch of its latest product - Rush Golf Live - with Betfred the first operator to carry the game.

British Basketball League in Deal With Perform - The British Basketball League has agreed a six-year deal with Perform, a digital sports content and media group, for the distribution and sale of all global media-related rights.

Ashley Sandyford Sykes Sharing Slot Expertise - Sandyford-Sykes has experience in the development of over a hundred popular online slot titles and led the Quickfire development team at Microgaming.

2016 WPT National Marrakech High Roller Results - Spanish poker pro Nabil Cordoso boosted his career earnings by a useful $66,873 this week when he was awarded the first prize in the PMU.fr WPT National Marrakech High Roller event in Marrakech.

GreenTube and Chopsticks In Partnership - Novomatic Interactive subsidiary Greentube has announced that it has signed a partnership deal with the Gibraltar-based mobile app developer Chopsticks In The Apps Ltd through which it will organize distribution of Chopsticks games through its online, mobile, social and land-based channels.

DraftKings Investigating Collusion Complaint - The stigma of cheating has surfaced again in the daily fantasy sports sector following allegations that two players colluded in a million dollar contest at DraftKings.

Singapore Gambling Exemptions Granted - The issue of certain state-linked commercial organisations being granted exemptions from Singapores tough anti-online gambling laws has been on the table for the past few months and has been the subject of opposition complaints; protest petitions and general argument.

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