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PORTUGAL MOVING TOWARD REGULATED ONLINE GAMBLING?

03/09/2012 :  IS PORTUGAL MOVING TOWARD REGULATED ONLINE GAMBLING?
 
Cash strapped government re-considering its position on internet gambling
 
Portugal, traditionally an opponent of online gambling which was seen as a threat to its state lottery monopoly, appears to be changing course on the desirability of regulating, licensing...and of course taxing… online gambling.
 
At the end of last year the weekly newspaper Sol published details from an internal government discussion document that examined the possibility of using funds generated from legalising online gambling as a means of financing urgent pension needs.
 
At the time it was estimated that such a strategy could raise an extra Euro 250 million for government coffers.
 
In February this year the discussion surfaced again, when the Portugal Daily Review reported that a source in the Ministry of the Economy had confirmed that the concept was being progressed, although little detail was available. The figure of Euro 250 million, collected from "gambling concessions" was still the financial target at that point.
 
Rita Abecasis, advisor to Secretary of State for Tourism Cecília Meireles, confirmed that, “this 250 million will come from online gambling”, however the government has not yet clarified whether the number includes ongoing taxes in addition to initial licensing fees.
 
This month, Meireles indicated that the government thought the introduction of a regulatory regime, and the concomitant collection of taxes, was do-able before the end of 2012, although she gave scant further detail.
 
Speaking to the Publico newspaper, she confirmed that there was political agreement on the concept, although the detail had yet to be fleshed out.
 
It is uncertain where this leaves foreign operators like Bwin.party digital, which has - so far unsuccessfully - been locked in an expensive legal confrontation with a state lottery intent on shielding its monopoly in European Court of Justice and Portuguese court proceedings since 2009.

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Gambling News :

Amaya FY2016 Trading Update - The Montreal-based Amaya online gambling group has issued a trading update covering FY 2016 and improving its forecast revenue and earnings numbers.

Another Mega Fortune Dreams jackpot for Euro 3.5 million - In a statement Friday NetEnt advised that the lucky player is a 62-year-old woman from central Finland who won the seven-figure sum from a Euro 1 stake.

Stanleybet has filed a legal action against the government of Cyprus - Bookmaking firm Stanleybet has filed a legal action against the government of Cyprus, claiming Euro 12.5 million as compensation for what it claims is loss of profits and opportunities, prejudice to image and business reputation and legal costs.

LeoVegas To Sponsor Leicester Tigers - The agreement includes official partner accreditation, media space at Welford Road stadium and matchday tickets and VIP hospitality as well as two pitchside perimeter boards from the 2017/18 season and one for duration of the 2016/17 season.

Optima Information Services iShop - Industry visitors to the recent TVC Bookmakers Trade Fair in Solihull, UK were much taken by Spanish betting technology firm Optima Information Services' iShop product, and the company went on to win the SBC Best Retail Betting Product award with it last month.

Golden Nugget Las Vegas Launches New Betting App - Golden Nugget Las Vegas has unveiled a sports wagering app offering Nevada punters the comfort and convenience of being able to wager from anywhere in the state.

CAGAYAN CHIEF MOVES TO REASSURE LICENSEES - Apparently $4 million is going into improvements of the Authority’s data centre in the Freeport at Cagayan, whilst another $3 million has been earmarked for an upgrade to data infrastructure located outside the Freeport.

New Massachusetts Online Gambling Bill - It seems that every two years (give or take a few months) Massachusetts state Senator Bruce Tarr flights an online gambling legalization bill in the state Senate.

Las Vegas Sands Fined for foreign bribery allegations - #lasvegassands Las Vegas Sands, the land casino company owned by multi-billionaire US mogul Sheldon Adelson, has again had to cough up a stiff penalty for non-compliance with the law.

Libratus AI Program Destroying Human Poker Opponents - #Libratus With 40,340 hands played (about a third of the 120,000 planned) Dong Kim is down $29,506, whilst Jimmy Chou ($113,7728), Daniel McAuley ($141,877) and Jason Les ($186,489) are all carrying losses.

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