GBP 59.1 MILLION VAT CLAIM BY RANK PLC UPHELD

Rank plc, the British online and land gambling group, will be celebrating this week after the High Court in the UK rejected an appeal by Her Majesty’s Revenue & Customs against a VAT & Duties Tribunal ruling which had approved the company's GBP 59.1 million VAT refund claim.

The VAT was paid over a period of five years starting in January 2003 in respect of games of interval bingo and gaming machines in Rank’s Mecca Bingo clubs. Rank was awarded the massive refund late last year on grounds that the manner in which certain types of gaming machine in Rank’s clubs was treated for tax purposes was inconsistent with European Union rules concerning fiscal neutrality.

Interest on the refund will also be due to the gambling company.

The High Court decision could have positive implications for other gambling companies, a fact which Customs officials noted in a statement, saying: “There are some important legal points to consider before deciding our next course of action. The High Court’s decision affects all suppliers of mechanised cash bingo and we will be issuing a Revenue & Customs Brief shortly advising on how any overpaid VAT can be claimed.”

However, should Revenue and Customs decide to further challenge the refund, it has until June 29 this year to lodge a further appeal, this time against the High Court's findings. And Rank plc has not finished with it yet - a claim for the refund of another GBP 26 million paid in VAT between 2002 and 2005 has also been upheld by both the VAT and DutiesTribunal and the High Court. The tribunal may consider further refunds when it reconvenes later this year.

Leander In deal with SkyVegas - 02/07/2012 : Leander Games has agreed to create and develop an exclusive version of the games which will incorporate and reflect the Sky Vegas brand.

ON-PREMISES REMOTE GAMBLING FOR NEW JERSEY? - 02/07/2012 : The publication New Jersey.com reports that state politicians keen to boost the waning fortunes of Atlantic City land casinos are to discuss following the example of Nevada by permitting remote on-premises gambling using mobile handheld devices.

POKERSTARS DROPS MACAU MILLIONS - 02/07/2012 : The postponement of the Macau Millions reported recently has been confirmed by the Pokerstars blog, which announced this week that the project will cease next month for an indefinite period.

RECORD PRICE PAID FOR CARD PLAYER ART - 02/07/2012 : One of a series of five Cezanne impressions of card players painted in the 1890's has changed hands for a record $250 000, reports the publication Vanity Fair.

Vadzim Kursevich wins EPT Deauville main event - 02/07/2012 : After five gruelling days of top level poker and a 12 hour final table, the 24-year-old Belarusian poker ace Vadzim Kursevich has emerged as the winner of the EPT Deauville main event, claiming the top prize of Euro 875 000.