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Gambling: CEO wants government intervention

The CEO of one of Australia's biggest betting outfits, Elmer Funk Kupper of Tabcorp, wants the territorial governments to reform regulation and tax measures to create more revenue for the racing industry and and make it easier for companies such as his to compete with online offerings.
 
Kupper told ABC Television that at present bookmakers can operate from a state or territory outside NSW and Victoria, where Tabcorp operates the TAB, offering products online without paying the same taxes or fees.
 
"If you look at the business that we operate in Victoria and NSW, they are actually significantly disadvantaged because the new players over the internet arbitrage significant tax and fee advantages that we don't have," Kupper said in an interiew. "All we are saying is, can we get the rules to be the same."
 
Corporate bookmakers operating outside NSW and Victoria were not contributing enough to the racing industry in fees, Kupper added.

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"Last year we paid some $540 million to the racing industry. The bookmakers paid almost nothing," he said, suggesting that territorial governments should step in to ensure that everyone contributed equally.
 
"You put that in place you can have a competitive wagering market and a well funded racing industry and that's our argument," he said.
 
Despite his comments, Tabcorp has set up its own bookmaker in the Northern Territory to take advantage of the loopholes its competitors were using, the Brisbane Times reported.  The company was also offering more fixed odds, rather than through TAB's totalising system, to help maintain profit, Kupper confirmed.
 
"We are in part participating in that trend because we can't wait for governments to get the rules right in the next three to five years, if at all," Kpper concluded.

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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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