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Posted 3/11/11 : Sensible move to a practical tax regime
The furore over the Greek government's proposed online gambling tax rate of 6 percent of turnover appears to have been ameliorated with the news this week that following submissions from interested parties, the politicians have now opted for a 30 percent tax on gross profits.
The Remote Gaming Association was among those who made submissions on the original 6 percent-of-turnover draft, which RGA chief Clive Hawkswood described earlier this year as  "....just not viable in a highly competitive global market", and pointed out that the French government had already made a similar error in imposing too high a tax rate.
Hawkswood's organisation, assisted by business services group KPMG, submitted an assessment to the Greek government, showing that only a gross profits taxation model will provide value for consumers, a reliable source of revenue for the government and a healthy, competitive environment for the industry.
This week the RGA welcomed the reconsidered tax rate, although it noted that the Greek tariff was still somewhat higher than in other European jurisdictions such as Spain. A spokesman said that the Association would continue to lobby the Greek government in an attempt to bring its tax into line with that of other European regulators.
The Greek government has plans to issue somewhere between 15 and 50 internet gambling licenses in 2011, each of which will run for five years. Several major online gambling companies have indicated an interest in taking out licenses.
The liberalisation bill passed at the end of January, leaving the construction of regulations, licensing and taxation regimes to be finalised. There were earlier concerns that aspects of the draft may be in conflict with European law, specifically requirements that licensees have servers and a presence in Greece, and use a Greek internet domain.

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Gambling News :

Phil Ivey Loses Borgata Casino - Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.

NYX Gaming in deal with Endemol - "Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”

NEW CAMBODIAN GAMBLING LAWS - After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.

Congress To Review US SportsBetting Restrictions - Did the American Gaming Association’s campaign influence the decision to take another look at the 1992 Professional and Amateur Sports Protection Act?

Playtech Acquires ECM Systems - Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.

Marks and Spencer store Manager steals to Gamblie Online - The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.

Chinese Gambling crackdown could damage high roller revenue - Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.

EvenBet Open Face Chinese Poker - Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.

PartyPoker Millions tournament guarantee Now GBP 6 million - Online poker operator PartyPoker announced Thursday that it is to boost its PartyPoker Millions tournament guarantee by a million sterling to GBP 6 million, claiming it is now the biggest prize pool guarantee in European poker history.

2016 EPT Malta - The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.

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