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SOUTH AFRICAN ONLINE GAMBLING TAX REGS RELEASED

South Africa's Minister of Finance, Trevor Manuel, this week released for public comment a bill that will tax Internet gambling. The bill provides for a special tax on "interactive gambling" which was earlier regulated in the National Gambling Amendment Bill approved by Parliament in May 2008.
 
The tax will be imposed on operators with an interactive gambling website in South Africa, and will fall on gross gambling revenue.
 
The initial National Gambling Act which this year’s bill amended did not provide for legalised interactive gambling in South Africa, the Minister explained. The amendment bill therefore allows for this form of gambling in South Africa in order to ensure regulatory oversight of the pastime, and to prevent it remaining in the hands of offshore jurisdictions, with little or no protection for local consumers.
 
The National Gambling Amendment Bill provides for strong national regulation of online gambling. By setting up strict national rules, South African legislators reinforced existing regulatory conditions and further protected consumers and children.
 
Tax in respect of interactive gambling activities is to be imposed in terms of appropriate legislation - carried out separately because taxes are imposed by a special procedure under section 77 of the Constitution.
 
Once public comment has been obtained, the Interactive Gambling Tax Bill will be tabled in Parliament during the first half of 2009; comments must be sent to Treasury before March 1 2009.
 
The full text of the Bill can be found on the Treasury’s website.

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Gambling News :

IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

Magic Spells SLot Launches - The penny slots’ Wild symbol is a bubbling cauldron which is an Expanded Wild that can cover up to four positions for multiple winning combinations.

Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

Storspiller HighRoller Casino Launches - Storspiller.com is targeted at “high rollers” within Kindred’s total registered customer base who play for GBP 200 or more per month.

Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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