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Bulgarian gambling tax Could Put Thousands Out Of Work
11/6/09 - The successful first reading of a Bulgarian government bill designed to hike gambling taxes up from 10 percent to 12 percent has triggered some dire warnings from industry associations, with claims that up to 40 000 people could be put out of work if the changes to the law are passed.
The Sofia news agency reports that the Bulgarian Association for Entertainment and Gambling Games has warned that the industry could collapse under the burden of extra taxes.
According to the Association, instead of raising BGN 12 million of additional revenue, the tax increase is actually going to reduce state revenue coming from gambling because the industry has already seen a 40 percent slump over the economic crisis and will thus be dealt a new blow.
The Association warned that some 40 000 people of the 80 000 jobs in the gambling sector might be made redundant as the industry starts to struggle because of the combined effect of the world economic crisis and the greater tax. It has calculated that since the average salary in the sector is BGN 700, the loss of 40 000 jobs would translate into the loss of BGN 134 million in indirect taxes for the state budget. This figure is said to disregard the potential closures of gambling firms, smaller VAT and corporate tax payments.
According to official data, the Bulgarian gambling industry had a turnover of BGN 700 million in 2007, and of BGN 1 billion in 2008.
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Cryptologic 14 top games to be provided to Loto-Quebec -
02/08/2012 : The companies have signed a multi-year agreement that will see Cryptologic providing a portfolio of quality games to the Societe du jeu virtuel du Quebec, the online gaming division of the provincial state lottery corporation Loto-Quebec, known as Espacejeux.
Utah : Online Gambling : HB108 -
02/08/2012 : An intrastate attempt by Utah politician Stephen Sandstrom to introduce state legislation banning any legalisation of internet gambling has failed at the start gate.
MORE U.S. DISCUSSION ON INTERNET GAMBLING DUE THIS WEEK -
02/08/2012 : Interest in online gambling in the United States is set to continue on Thursday this week when the US Senate Committee on Indian Affairs meets to hear the views of a wide cross section of interested parties on the possible impact of legalised internet gambling on tribal gaming.
Judge wont dismiss DoJ Black Friday charges -
02/08/2012 : Former Utah banker John Campos and e-processor Chad Elie, who face charges relating to the payment processing of online poker transactions, suffered a setback Tuesday when a Manhattan judge refused to allow their motion for dismissal of Black Friday indictments against them.
ANOTHER MAJOR INTERNET GAMBLING BUST IN MALAYSIA -
02/08/2012 : Police units in Malaysia raided a series of premises in a week long anti-online gambling operation, seizing 225 computers and detaining 47 men, according to reports from the Bernama news agency. All of the detained men were later released on bail.
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