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Gambling Law Changes For Hungry

Friday December 6,2013 : HUNGARY IMPLEMENTS GAMBLING LAW CHANGES
 
Demands for land casino licenses, but foreigners still largely excluded from remote gambling sector.
 
Demand for the ten land casino concessions permitted by recent changes to Hungarian gambling laws is said to be keen in reports from 11 of the Central European country's cities, but as the law stands at present it will be difficult for foreign remote gaming operators to gain a foothold in the promising market.
 
Amendments earlier this year broadened the list of games legally available on the Web and came into force in July.
 
However, the new regulations still treat remote gambling as a restricted gaming activity, although there are plans to expand the scope of current permissions to include sports betting and online casino games, in addition to the previously available online horserace betting and online card games.
 
The problem for foreign companies seeking to operate in the remote gambling sector is that the law requires that activities be carried out only by the state gambling organisation or by a concession operator that has a contract with the state.
 
This means that a domestic presence or partnership with an existing concessionaire is essential for foreign companies wishing to operate in Hungary.
 
Available concessions are of five-year duration and come with a hefty fee of around $450,000 per game type. Operators are additionally liable for a 20 percent tax on gross gaming revenues, to be levied every two weeks, as well as a quarterly supervisory fee equal to 2.25 percent of the sum.

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Gambling News :

888sport is the latest to join sports betting integrity body ESSA - Major operator 888sport is the latest to join sports betting integrity body ESSA with the company adding its customer base and betting market platforms to ESSA’s global anti-fraud alert and reporting system.

First partypoker live event to be held in Russia - Partypoker’s new live tour will kick off in Russia on March 24, 2017 at Sochi Casino and Resort in association with Club Poker Management. Online Day 1’s will start on partypoker on March 12, 2017.

Rooster Slot Launches - “Rooster” offers 243-ways-to-win along with a big chase in the free games bonus round, where all 5-of-a-kinds are multiplied by the lucky number 5!

Scientific Games Completes DEQ Systems Corp Acquisition - Scientific Games has completed its acquisition of table games product developer DEQ Systems Corp after a deal was announced at the end of August 2016 .

Asia Gaming To Showcase Live Dealer Action - Asia Gaming will be practically demonstrating its live dealer baccarat at the ICE show next month. The Asia-facing online gambling provider is on the expansion trail and intends to make a big impact at the expo and conference in London.

25 Unlicensed Gambling Operators still in Czech Republic - Ondracka claims that the Finance Ministry has not been "resolute" in acting against the illegal operators, who he says include major companies.

2017 Aussie Millions Event 6 - Heads up, Boivin faced local pro Joel Feldman, but the Aussie proved to be no match for an on-fire Boivin who dispatched him with the runner up prize of A$78,440.

2017 Ice Totally Gaming - Next month's ICE Totally Gaming conference and expo will again be a truly international affair, following confirmation by organizers Clarion Gaming that a total of 67 jurisdictions and sovereign states will be represented on the show floor at ExCeL Centre, London.

Prince Edward Island Writes off Casino venture as Bad Debt - The debacle has resulted in stricter financial disclosure rules being introduced with which government ministers and their departments will have to comply - especially regarding loan and other write-offs of taxpayer monies.

IGT in 7 Year Deal With Svenska Spel - #IGT , as legacy #GTECH , has been providing video lottery products and support services to the state-owned monopoly Svenska Spel since 1996, the statement reminds readers.

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