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888 CEO Gives Thoughts on European Poker Market

Monday October 27,2014 :  EUROPEAN POKER MARKET GETTING TOUGHER
 
But 888's outgoing chief still confident on the industry's potential.
 
888 chief executive officer Brian Mattingley gave his thoughts on the industry in an interview with the poker information site Pokerfuse this week, saying that although he remained confident on the ultimate future of the business, there could be tough times ahead due to changes on the regulatory scene, unlicensed operators and the economic uncertainties plaguing the world.
 
Among the issues Mattingley addressed was the implementation of the UK point-of-consumption legal changes, which include the imposition of a 15 percent tax on operators in respect of business conducted with British online punters.
 
888 is Gibraltar-based and accrues 40 percent of its revenues from the UK market, so it is clearly impacted by the changes and has backed the Gibraltar Betting and Gaming Association's so far unsuccessful legal challenge to the new dispensation.
 
He voiced the opinion that the new tax and licensing regime did not appear to have been well thought through, but said he had no problem with understandable regulation, and that his company would remain in the UK online gambling market.
 
That involves compliance with the government's requirements, including the disclosure of activities in grey markets which contribute more than 3 percent to revenues.
 
Mattingley emphasised that this was not a problem for 888, which holds legitimate real-money licensing in every major market where it operates and licensing is available.
 
He remains confident in the ultimate potential of the US market despite the volatile political situation, although he expressed surprise at how long it is taking the business to take off in those states that have legalised online gambling action.
 
The veteran online gambling executive touched on his company's decision to exit the French market due to its high 37 percent tax rate and declining poker market, commenting that tax rates levied by European governments may be a continuing problem for the industry, and the forthcoming introduction of an EU value added tax next year on goods and services rendered over the Internet would inevitably impact online gambling companies.



Gambling News :

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

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3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

The Railbird Launched By Americas Card Room #acra - Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.

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