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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.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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