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SPANISH GAMBLING REFORM BILL MOVES TO SENAT

Many amendments at committee level on contentious bill, which includes changes to online gambling law.

The Spanish Congress, or lower house, has approved Spain's gambling reform bill, which includes extensive provisions for online gambling legalisation.  The bill was substantially amended in debate through the Congress Finance Committee, it is understood, although full details were not available at press time.

The bill now moves to the Spanish Senate for further debate and voting, after which it will be submitted to the European Commission.

Industry observers have opined that the speed of the bill's passage thus far could result in its provisions being implemented, and the online gambling market in Spain opened up, before the end of 2011.

The legislation represents the first major overhaul of gambling law since the pastime was decriminalised in 1977, Nerja Today reports. It has been the subject of wide debate, especially from online gambling companies, which has motivated changes to the taxation proposals.

In addition to the traditional (land) forms of gambling, such as bingo and casinos, the new legislation covers internet and telephonic betting, areas that were previously unregulated at the national level.

A transitional period has been included in the legislation to allow companies to conform to the new law with regard to company status, sponsorship activities and advertising in the media. Many land and online gaming companies sponsor top football teams.

It is understood that there is also provision for Spanish football clubs to offer sports betting.

Amongst the changes that are being introduced is a requirement for companies involved in internet gambling in Spain to have a Spanish domain name to allow for easier supervision and control.

The new law also establishes mechanisms for the regulation and management of the sector to enhance legal security for both operators and consumers for different types of gaming as well as protecting minors and those who are legally prohibited from gambling.

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Gambling News :

Interwetten 2016 Earnings Results - Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform

EU Online Gambling Tax Harmoney Dead - Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.

Jack Lam Facing Big Fines in the Philippines - It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.

Walter Merricks Term As Gambing Commissioner Extended - The UK Government has extended Walter Merricks’ term as Commissioner of the Gambling Commission for a further year, ending December 31, 2017.

Loot’enKhamun Pays $3.8 Million Jackpot - A London-based construction worker’s year got off to a great start when he hit the Loot’enKhamun jackpot at bwin casino.

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.

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