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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.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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