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DANISH LIBERALISATION CREATES MORE COMPETITION FOR MALTA

Monday, September 26, 2011 : Online gambling delivered 7.82 percent of Malta's GDP in 2008, 11 times higher than the EU’s average of 0.68 percent.
 
The recent news that a European Commission finding supported lower tax rates for Danish online gambling operators than their land counterparts will open up competition for Malta in the licensing jurisdiction stakes, predicts an article in the Malta Times.
 
However, Danish licensees will be still be paying a 20 percent tax on profits (against the 45 to 71 percent imposed on their land equivalents) the article notes.
 
The Danes have already opened applications for online gambling licenses, aiming for an effective date early in 2012 following the Commission's finding that a lower tax rate was justified due to the cross-border and more competitive nature of internet gambling.
 
The Remote Gambling Association, a trade body that represents the interests of major online gambling operators, many of them in Malta, welcomed the Commission’s findings last week and said there were clear and justifiable reasons for a lower rate for remote operators.
 
“In essence, land-based operations compete within physical national boundaries, while online companies are part of a highly competitive international environment, and fiscal policy should be set accordingly,” a spokesman said.
 
According to a green paper published by the Commission earlier this year in a consultation initiative, by 2008 Malta had attracted more than 500 international companies, making very substantial contributions to state coffers. Contributions from the gambling industry amounted 7.82 percent of Gross Domestic Product in 2008, eleven times higher than the EU’s average of 0.68 percent of GDP.

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Gambling News :

Betsoft Gaming In Deal With SuprNation - Betsoft Gaming’s latest content supply partnership will see its Slots3 collection launched on VoodooDreams.com, SuprNation’s primarily Swedish and Nordic focused online gaming operation.

Ladbrokes New SPonsor of The Hennessy Gold Cup - The longest sponsorship deal in the history of British horse racing has come to an end with Ladbrokes becoming the new sponsor of the race formerly known as The Hennessy Gold Cup for the next five years, Racing Post reports.

Ladbrokes Appoints Annemarie Durbin - Durbin, a qualified lawyer with over two decades of international banking experience, will also take up membership of the Audit, Remuneration, Social Responsibility and Nomination Committees with effect from March 1, 2017.

Olympus Slot Pays $210k Jackpot to USA Player - “I love slots, been playing a long time. I go to Vegas once a year. In between I play online. It’s so convenient. I play mostly Hold the Riches, Pyramid Plunder, Dollar Storm or Olympus. I’ve also started playing keno more.”

Divine Fortune SLot Launches - NetEnt has launched a new local jackpot title “Divine Fortune”, a five-reel, 3-row, twenty-fixed line video slot themed on ancient Greece and a world of mythical creatures, legendary riches, and golden coins.

BetatHome profit guidance for the 2016 financial year - bet-at-home.com AG has lifted its profit guidance for the 2016 financial year following what it terms a “supremely positive business development in the fourth quarter”.

Aussie Millions $1,150 buy-in No-limit Hold’em Accumulator Results - In the latest Aussie Millions event - the A$1,150 buy-in No-limit Hold’em Accumulator, local poker pro Bridges Roe prevailed against a field of 721 to claim the main prize of A$160,725, despite starting the final day at the bottom of the chip counts.

2 Huge Wins at Bovada Casino - Paul D. from Boston, MA, scored really big, earning $808,529.80 playing the Food Fight progressive jackpot slot on the Bovada online casino on a wager of $11.25. Unfortunately Bovada's press release does not give any further details.

China Internet Clean Up Campaigns - The advisory revealed that the current drive will run through to the end of March 2018, and that online gambling and other inappropriate or unacceptable content must be blocked because:

AOPA to campaign for poker to be left alone - The threat that amendments to the federal Australian Interactive Gaming Act aimed at stopping in-play action could spill over into an online poker ban has motivated Aussie players to form an action group in support of the game.

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