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More liberalisation For ITalian Online Bingo
Friday January 18, 2013 : FURTHER LIBERALISATION PLANNED FOR ITALIAN ONLINE BINGO
EC approved regulations could be implemented as early as mid-year
Italian online bingo punters should see further liberalisation soon - perhaps as early as mid-year - which includes permission for operators to offer other games and slots on their bingo websites.
Regulator AAMS plans to run a consultation initiative ending the third week in February, leading to the implementation of more liberal regulations towards June-July.
The online bingo sector in Italy saw revenues plunge by more than 34 percent to just Euro 3 million recorded in June 2012.
The overhaul of the nation's declining online bingo sector took place last year, with draft regulations submitted to the European Commission for approval around September. The Commission has since approved the changes, which should enable operators to boost revenues by offering players more variety and interest.
The changes include provisions for a minimum ticket price of Euro 1 cent a game ranging up to Euro 10 a game. Other changes include permission to introduce new types of bingo and jackpot offerings.
Industry experts in the sector have noted that side games on bingo sites can boost revenues very significantly, but there will be little relief for bingo operators from a tax perspective - high taxation (11 percent plus a 1 percent SOGEI fee) will continue to make viable business difficult with a minimum 70 percent return to players requirement.
However, in comparison with their land counterparts, Italian online bingo operators are better off. Land bingo operators pay 20 percent on turnover plus a 3.8 percent SOGEI fee, although their minimum return to players is lower at 58 percent.
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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.
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.
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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