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BETFAIR INITIATES MORE AUSSIE LITIGATION
Australian racing media Thoroughbred News and Racing and Sports are reporting that betting exchange Betfair has issued proceedings in the Federal Court of Australia challenging the validity of decisions by Racing NSW and Harness Racing NSW to impose a 1.5 percent turnover fee for all wagering operators wishing to cover NSW thoroughbred and harness races.
The proceedings in the Federal Court are brought under section 92 of the Constitution, alleging discriminatory conduct in interstate trade and commerce.
Betfair succeeded in a separate section 92 action against the Western Australian government earlier this year .
Andrew Twaits, Betfair’s director, for corporate and business affairs and Australian CEO designate is quoted as saying: “We’re happy to pay a fee to the NSW racing industry on all our wagering revenue but the turnover fee imposed by Racing NSW and Harness Racing NSW is highly discriminatory.
“The fee equates to around 60 percent of our gross revenue but less than 10 percent of TAB’s revenue. Both RNSW and HRNSW are fully aware that it’s impossible for us to compete on those terms. They’ve left us with no option but to challenge the validity of their decisions.
“The only fair basis on which to charge for race fields is to implement a gross revenue model where every wagering operator pays at the same rate. That way, even if there is any transfer of customer expenditure from the TABs to other wagering operators, the NSW racing industry will continue to get the same proportion of revenue from every dollar spent by punters.”
Betfair has received approval from all three racing codes in NSW to publish their race fields. Betfair has said that any payments made to Racing NSW and Harness Racing NSW will be made under protest - pending the outcome of these proceedings.
Betfair is licensed as a wagering operator in Tasmania and is legally permitted to accept bets from customers throughout Australia. Betfair already pays taxes and product fees to Tasmania that equate to 35 percent of its gross revenue.
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PlaySugarHouse To Carry Konami Content -
Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.
ITF TERMINATES BETWAY SPONSORSHIP DEAL -
The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.
GSA To Launch European division -
The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.
Paddy Power Trading Update -
Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.
Tabcorp SunBets project -
The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.
China Lottery Sales Up in 2016 -
The Chinese official news agency Xinghua reports that according to figures from the Ministry of Finance released Monday, Chinese lottery sales in 2016 rose 7.3 percent year-on-year to 394.64 billion yuan (about US$57.53 billion).
New chairman and a new director for 500.com -
Chinese online lottery operator 500.com has announced major executive changes to the company with the apparently amicable departure of director and chairman Man San Law, as well as director Weiguo Zhao from its board of directors, effective January 20, 2017.
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