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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.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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