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Irish Horse racing administrator calls for taxation of Internet betting sites

Brian Kavanagh, Chief Executive for Horse Racing Ireland (HRI), has raised the profile of online gambling by asking the Irish government to consider taxing all offshore online and telephone betting. The horseracing industry in the Emerald Isle has been taking a beating due to the adverse economic climate, recording its first decline in business in more than 15 years, reports the Irish media.
 
After a busy 2008 where horseracing grew to its highest levels yet in number of fixtures, races, runners and owners,

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the sudden decline has administrators worried. 
 
HRI reports that key performance indicators showed attendances at Ireland’s 27 racetracks falling by 9 percent to 1.39 million last year from the record 1.53 million in 2007. Much of this overall drop was attributed to the significant number of meetings lost due to inclement weather, especially from August to October. There were 42 cancellations in total for 2008, a major increase on the 12 recorded the year previous.
 
On-course betting turnover fell by 18.2 percent with bookmakers reporting a 21.5 percent drop while the Tote revealed a 10.1 percent decrease. In addition, bloodstock sales at public auction fell by 43.6 percent.
 
“With so many demands on government resources and finances, now is the time for the racing industry to become truly self-financing, as it is in most other countries,” said Kavanagh. "This can be done with a meaningful levy on betting, including all off-shore Internet and telephone betting, which has wrongly escaped the taxation net up to this point.
 
“Racecourses generate employment and tourism activity and the industry needs long-term certainty of funding so that we can put in place the borrowings required to undertake the necessary capital investment,” he opined.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

PlaySugarHouse To Carry Konami Content - Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.

ITF TERMINATES BETWAY SPONSORSHIP DEAL - The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.

GSA To Launch European division - The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.

Paddy Power Trading Update - Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.

Tabcorp SunBets project - The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.

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