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ONLINE GAMBLING TAX BILL STILL STUCK IN COMMITTEE
But Representative McDermott is pushing to get his tax bill marked up
A Congressional bill that could raise billions of dollars in state and federal revenues through the taxation of a legalised online gambling environment in the United States remains stuck in committee, but author Representative Jim McDermott is pushing hard to get it marked up in time to get it to the House floor in this Congressional session.
The Internet Gambling Regulation and Tax Enforcement Act of 2010 is an important companion bill to Congressman Barney's Frank's HR2267 seeking to legalise online gambling in the United States.
It deals with the issue of taxing - and how to use those tax revenues - a legalised internet gambling market, which independent estimates predict will garner billions of dollars for government coffers over the next decade.
HR2267 has been debated, amended and voted forward from the House Financial Services Committee, but needs the support of an allied tax bill such as McDermott's.
However, McDermott's bill remains mired in the House Ways and Means Committee, bogged down by a slew of other legislative projects, and time is running out as distracted politicians eye the October break for campaigning in mid-term elections in November, and the closing months of the current Congress.
This week the National Journal reported that McDermott is pushing the Ways and Means chairman, Sander Levin, hard for a mark up on his bill in the hope that he can get it to the floor. It's an issue that will be closely watched by the industry.
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Gambling News :
Is Gibraltar Out of Luck in US Tax Challenge -
Gibraltar's challenge to the UK 15 percent point-of-consumption tax on online gambling operator revenues has already failed in the UK High Court, and it looks as if it may be rejected by the European Court of Justice too.
Quickspin are now available in Denmark -
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UCypher Launches -
Indian entertainment and media entrepreneur Ronnie Screwvala has announced the formation of UCypher, an eSports tournament in which ten teams will compete.
Extreme Live Gaming In deal With Betsson -
Extreme Live Gaming, a subsidiary of the Novomatic Interactive group, has announced a live dealer product deal with the Betsson online gambling group, with an initial launch planned for Betsson.com, followed by other brands in the Swedish group's portfolio.
Expansion Mode For BoyleSports -
The Bambury premises are situated in Kildare, Meath and Dublin and will be refurbished and rebranded after acquisition, with the total of 31 staff remaining in employment..
Safecharge Q4-2016 -
Online e-cash processing firm Safecharge, where Playtech's Teddy Sagi is a majority shareholder, released a trading update on its Q4-2016 performance Thursday, flagging record transaction processing volumes and revenues.
ASA Most Controversial Ads of 2016 -
Paddy Power's penchant for advertisements that cause a stir saw the betting company mentioned twice in the Top Ten most controversial adverts of 2016 released by the Advertising Standards Authority in the UK Thursday.
Yggdrasi To Enter Italian Gambling Market -
Yggdrasil’s Italian offering will include the company's collection of in-game promotional tools, BOOST, improving gamification, and the social sharing tool, BRAG. The company’s mobile product will also be available on its HTML5 iSense 2 platform.
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