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Single Set Of Gambling Rules for EU

Tuesday Moarch 11,2014 : EGBA LIKES EP VOTE FOR SINGLE SET OF EU RULES
 
Negotiations to resume in May 2014 following EP elections
 
The European Gaming and Betting Association (EGBA) said it salutes today's European Parliament (EP) vote supporting a single set of rules through the European Union (EU).
 
Adopted by an overwhelming majority, the updated rules for the first time subject all gambling services to EU-wide rules for the prevention of money laundering while bringing greater legal security and consistency to online gambling operators offering their services across EU states.
 
The revised rules were initially presented by the European Commission in February 2013, followed by an intense debate by two parliamentary committees until last month.
 
“The EGBA would like to congratulate the European Parliament for its vote on these revised rules," said Maarten Haijer, Secretary General of EGBA. "It confirms that online gambling is an inherent cross-border service which, in line with the subsidiarity principle, is better governed by one set of rules at EU level, rather than by 28 different national laws. These rules will further add to the existing body of Internal Market legislation applicable to the gambling sector.”
 
According to the EGBA, the text as voted by the Parliament today, also states that Member States may be exceptionally entitled to exempt certain forms of gambling following approval by the European Commission.
 
“If exemptions are to be granted, they will need to be risk-based and supported by clear evidence. The lack of cash money and the transparency and traceability of online gambling transactions in a regulated environment are great assets to mitigate potential risks of money laundering,” Haijer added.
 
 “We are confident that the European Parliament now has a good basis to come to an agreement with the Council. We hope that the final text will be approved by all institutions by the end of the year as it is vital that the directive is transposed at national level as soon as possible.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

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.

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