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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.



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US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

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