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Austrian Government gambling law draft too biased toward monopolies
Legislation drafted by the Austrian government's Finance Minister Wilhelm Molterer is so skewed to favour state monopolies like Casinos Austria - and against European Union law - that the Vienna-listed online gambling group Bwin Interactive Entertainment AG has commissioned its legal team to draw up alternatives for the politicians to consider.
The proposed Gambling Act has been criticised widely since its release, and drafters stand accused of overtly favouring state monopolies, which could lead to conflict with European Union principles calling for the free movement of goods and services between member nations.
Bwin's Co-Chief Executive Officers, Norbert Teufelberger and Manfred Bodner were apparently not consulted in any way prior to the release of the proposals by the minister and have responded by labeling the proposals ’unconsitutional’ and pointing to several court rulings in Austria alleged to back such an opinion.
Teufelberger told Austrian news portal OE24.at that the firm currently employs 800 people around Vienna but would ’be unable to develop more technology’ if the proposals were passed as they are now.
He said that the company’s own legislative proposals could be ready to lay before the Finance Ministry by next week, and that Bwin would be ’perfectly willing’ to pay tax on the revenues it earns in Austria should the legal situation improve through reforms.
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2017 Aussie Millions Event 1 -
The Melbourne-based player bested a field of 1,565 entries - 245 up on last year's equivalent - to end up in the heads up with New Zealnad's Qiang Fu, but not before both he and Qiang had narrowly escaped at the four-handed stage when they were the low stacks.
Swiss Reject idea to Block Gambling Websites -
The Legal Affairs Committee of the Swiss National Council has nixed new regulations which would have blocked access to online gambling sites in Switzerland, according to local media reports Tuesday.
Growth Ahead For Online Gambling -
Transparency Market Research has issued a teaser on its latest international online gambling and betting survey, forecasting that the industry will grow at a Compound Annual Growth Rate (CAGR) of 10.8 percent by 2024.
New Qubit software For SkyBetting -
#qubit Sky Betting & Gaming aims to top its record 50 percent revenue growth last year with new player differentiation software and expertise provided by the Qubit company.
Slotfather II Slot Launching -
#betsoft The first is a sequel to the popular gangster-themed online slot Slotfather, unsurprisingly titled Slotfather II, whilst the other is a new 243 ways-to-win game titled Fa Fa Twins..
Massachusetts Online Lottery Bill -
Flanagan's confidence was clearly boosted by the bill's success in the Senate last year, although it was not developed by the House and ran out of time.
Italy Doing Well With Online Sports betting -
The latest numbers from the Italian regulator show that online sports betting remains king when it comes to internet gambling in the market, generating Euro 391.8 million in turnover in December 2016.
Michigan To Reintroduce Online Gambling Bill -
#Michigan state Sen. Mike Kowell's staff have confirmed that the senator plans to reintroduce his online gambling legalization bill, which failed to make it through the last legislative season.
MGM Buys DC office building For lobbying team -
#MGM Resorts International has bought a new Washington, D.C., office building for its in-house lobbying team, led by former chief counsel to the now retired Nevada Sen. Harry Reid, Ayesha Khanna.
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