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Greece Wants Higher Gambling Taxes

Friday, April 22, 2016 : GREEK GOVERNMENT TO VOTE ON HIGHER GAMING TAXES (Update)
 
The already sky-high tax rate is set to go to 35 percent of GGR.
 
The Greek government has confirmed that it intends to call a parliamentary vote next week in order to increase the already high tax rate on gaming from 30 percent to 35 percent
 
In the quest for ever more tax revenue the government appears deaf to pleas from operators that it will be extremely difficult for them to prosper in such a discouraging business environment.
 
Among the major companies that have signalled their distress at the taxation hike has been Amaya, which specifically pointed to the Greek situation in advising that it was unlikely to meet its full year forecast (the company operates in Greece through Pokerstars.gr which has a partnership arrangement with one of the 'temporary' licence holders).
 
Tax receipts for government from online gambling have been minimal in the last three years, and turning the screw still further is unlikely to improve the situation; instead players will likely seek offshore operators who can better afford good odds and promotions.
 
Operators, including OPAP, have already warned that they may be compelled to leave the market, finishing off what is left of the goose that could have laid so many golden eggs.
 
OPAP and finance ministry officials have reportedly met to exchange views on the situation, but so far it does not appear that government has been deterred from further tax rate escalation, although perhaps there is room for manoeuvre in the way in which tax is calculated.

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Gambling News :

Petition to Ban Online Gaming in Singapore - Singapore Pools and Singapore Turf Club’s application to operate online betting has triggered the origination of a petition that calls on the Government to deny authorization and stop legalization of online gambling.

Lost Vegas Slot Launches - “Lost Vegas” is a new release on Microgaming’s October roster, a five-reel 243-payline game that offers punters the option to play in either Survivor or Zombie mode throughout the base game, a choice that affects the symbols and bonus games on offer.

Leap Gaming Partners With Pala Interactive - Israeli-based developer Leap Gaming has clinched its second deal in a week, this with Pala Interactive for the integration of its virtual sports turnkey product to Pala’s white-label social gaming platform.

Sportech Racing Partners With Macau Jockey Club - Sportech Racing and Digital has partnered Macau Jockey Club (MJC) for the provision of a white-label digital pari-mutuel betting platform and other retail solutions.

Bla Bla Bla Studios - Under the terms of the deal Bla Bla Bla Studios will develop and distribute exclusive gaming content for integration into the Quickfire platform.

Betser Powered By SBTech - #Betser is inspired by fantasy football, private betting leagues and social betting. The offer includes a twin-track loyalty scheme devised by Malta-based Hero Gaming, who operate Casino Heroes.

EveryMatrix has appointed Glen Bullen as Sales Manager - Bullen assumes responsibility for the entire casino sales operation, particularly focusing on growing distribution of the newly-updated and expanded CasinoEngine platform into Tier One operators.

Freemasons Fortune Slot Launches - Booming Games has launched Freemasons Fortune, a new 3-reel, nine-payline game inspired by the enigmatic Freemasons fraternal order.

Hollywood Classic Slots launches - Penn Interactive has launched Hollywood Classic Slots, a social casino game developed in collaboration with its recently acquired social gaming company Rocket Games.

Pagcor relents on 20 venues - In an announcement to the local stock exchange Monday, the company revealed that 20 of its 36 e-bingo revocations have been lifted, enabling operations to continue.

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