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F.O.B.T. MANUFACTURERS TO MEET WITH U.K. GOVERNMENT
Sunday April 6,2014 : F.O.B.T. MANUFACTURERS TO MEET WITH U.K. GOVERNMENT
Stiff additional taxation - and some anomalies - to head the agenda.
UK companies involved in the manufacture of the controversial Fixed Odds Betting Terminals found in UK betting shops are to meet with British government officials on the recent imposition of punitive tax rates, reports the publication This Is Money.
FOBTs have become the subject of intense media and political debate over contested claims that they are addictive, appear to be targeted on residential areas whose occupants least can afford to play them, and are becoming increasingly common with the expansion of betting shops.
This Is Money reports that manufacturers SG Gaming (formerly Global Draw) and Inspired Gaming (owned by private equity firm Vitruvian Partners) will meet with Helen Grant, Minister for Tourism, Sport and Equalities, on Tuesday in a bid to get the government to relax its stance, arguing that the FOBT industry is being unfairly targeted.
The companies will also flag what they believe to be an anomaly in the tax structures announced in the UK budget recently, where the Chancellor increased the machine gaming duty paid by bookmarkers on their betting terminals to 25 percent, but slashed bingo tax to just 10 percent.
This means that a customer can now play exactly the same game on the same machine, for the same stake in a bingo club at a 10 percent rate but if played in a betting shop it will cost the operator 25 percent of gross profits.
SG Gaming’s managing director Phil Horne told This Is Money: "We were concerned that a lot of decisions were taken without examining the data, so we’re pleased the government is happy to talk through some of the issues with us."
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Gambling News :
Amaya FY2016 Trading Update -
The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.
LeoVegas To Sponsor Leicester Tigers -
The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.
Optima Information Services iShop -
Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.
CAGAYAN CHIEF MOVES TO REASSURE LICENSEES -
Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.
New Massachusetts Online Gambling Bill -
It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.
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