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UK Treasury on a secondary licensing fee
Monday, November 28,2011 : SECOND THOUGHTS ON SECONDARY TAXING OF ONLINE OPERATORS (Update)
Deloitte report may give pause for consideration
The UK Treasury is due to complete its review into the GBP1.7 billion British online gambling market next week, and will almost certainly recommend that a secondary licensing fee be imposed on offshore remote gaming companies wishing to access the UK market.
Clearly with this prospect on its radar, gambling group William Hill plc, which has a more than 10 percent share of the UK market, recently commissioned its own review, conducted by the respected professional business services provider Deloittes.
The results published this week are interesting; the study indicates that secondary taxation at the point of consumption could lead to 40 percent of punters using unauthorized (and untaxed) operators, as more reputable companies exit the scene.
Deloittes estimates that any additional tax burden will grow the black market, and that a 15 percent British tax could result in two-fifths of legitimate firms departing the UK market, thus forcing Brit players to use more dodgy internet operators taking their chances with the authorities.
A spokesman for William Hill told The Independent newspaper this week: "The question for the Government is, should it introduce policy which distorts markets?"
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Gambling News :
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
Team Hot Launches -
#teamhot The Philippines licensed and GGNetwork-powered online poker operator Natural8 has announced the appointment to its "Team Hot" professional player line-up of Asian poker aces Kitty Kuo, Xuan Liu and Dong Kim.
Netent Q3-2016 Earnings Report -
#netent The UK continues to be an important growth driver but the weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year.
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