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Lack Of Interest In Romnia Online Gambling Licenses
Wednesday November 5,2014 : ROMANIA RETHINKS ONLINE GAMBLING REQUIREMENTS
Lack of interest prompts government to reconsider tax levels and restrictions.
The Romanian government is reconsidering its regulation and tax requirements for prospective online gambling licence applicants following a total lack of interest in the regime four years on from when it was implemented.
Despite repeated warnings from industry experts, the Romanians insisted on introducing high fees and a 25 percent tax rate, successfully discouraging any operators from taking out licensing in the Eastern European country.
European Commission reservations about the restrictive nature of the Romanian regulations did little to improve the situation, and now parliamentarians are debating a more sensible set of requirements, according to gaming law experts DLA Piper.
Among the changes are reported extensions in licensing duration from 5 years to 10 years; and a reduction in the taxation levels.
The Budget Commission of the Chamber of Deputies has approved the draft changes, which will be debated and hopefully voted on this month, although there could be disruption in the form of presidential elections in mid-November
In related news, the much debated and delayed Mexican land and online gambling reforms are reportedly at last coming together in terms of political agreement between the leading parties.
Local media reports suggest that the reforms include a minimum age for gambling of 21 and precautions against problem gambling, criminal involvement and money laundering.
Interested parties apparently reached consensus on the reforms at a meeting on November 4, agreeing that the reforms would include ten-year licenses, regulate and licence online gambling, and establish a new Advisory Council composed of the departments of health, tourism, economics and government, along with selected non-government bodies.
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PlaySugarHouse To Carry Konami Content -
Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.
ITF TERMINATES BETWAY SPONSORSHIP DEAL -
The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.
GSA To Launch European division -
The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.
Paddy Power Trading Update -
Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.
Tabcorp SunBets project -
The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.
China Lottery Sales Up in 2016 -
The Chinese official news agency Xinghua reports that according to figures from the Ministry of Finance released Monday, Chinese lottery sales in 2016 rose 7.3 percent year-on-year to 394.64 billion yuan (about US$57.53 billion).
New chairman and a new director for 500.com -
Chinese online lottery operator 500.com has announced major executive changes to the company with the apparently amicable departure of director and chairman Man San Law, as well as director Weiguo Zhao from its board of directors, effective January 20, 2017.
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