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GAMBLING ASSOCIATIONS ASK FOR RETHINK ON SPANISH TAX PROPOSALS

Posted 12/15/10 : EGBA, AEDAPI and RGA call for sensible tax regime in current draft bill to regulate Spanish online gambling.
 
With the recent French and Danish tax furores probably still resonating with their members, three prominent gambling trade associations joined together this week to appeal for a common sense approach to taxation in the drafting of online gambling regulatory legislation in Spain.
 
EGBA, AEDAPI and RGA claim that the Spanish draft bill puts more than Euro100 million in advertising and sponsorship for Spanish sports at risk
 
"The Spanish regional and federal governments will meet this week to discuss the final form of a Draft Bill to regulate the online gambling market in Spain, due to be presented to Parliament early in the New Year," a statement from the bodies informs.
 
"Consumers and online betting operators welcome Spain’s initiative to regulate its online gaming market. The bill leaked to the press will give rise to a forward thinking and effective licensing regime for the sector.
 
"But the bill is likely to be counterproductive if the taxation on turnover (total takings) applied to sports betting is retained in its final form."
 
Agustín Torres, Secretary of AEDAPI (Spanish Association of Online Gamblers), opined in the statement: “A betting tax on turnover (applied to every transaction) is not the right way to tax the industry, even if the rate were lower than the proposed 10 percent, as it does not allow operators to offer competitive products to consumers.
 
"A tax applied to gross gaming revenue, defined as turnover less winnings, to be enacted for all other forms of gambling in Spain, is the only sensible way to effectively tax sports betting. Such approach will bring consistency to the Spanish online gambling market, and enable the maximum number of operators to apply for licences.”
 
“AEDAPI estimates that more than Euro100 million in sponsorship and advertising revenue is currently invested each year by the major European sports betting operators in Spain, and this is at risk under this proposal”, indicated Torres.
 
An uncompetitive licensed sports betting market is likely to result in many consumers looking online for products offered by unregulated operators. Recently, taxation has been under scrutiny in France, where a new licensing regime launched prior to the World Cup applies a high turnover tax to sports betting.
 
Adding their weight to the AEDAPI view, the influential European Gambing and Betting Association and the Remote Gaming Association, said that the online gambling industry would welcome the opportunity to share its expertise during a public consultation.

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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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