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William Hill Exits Czech Republic

WILLIAM HILL EXITS CZECH REPUBLIC AHEAD OF NEW GAMBLING LAW
 
January 1st 2017 implementation brings in tough tax structure.
 
With the January 1st implementation of a new high-tax Gambling Act in the Czech Republic looming, online gambling group William Hill plc has informed its local players and affiliate marketers that it is exiting the market, and advised them to withdraw any positive balances in their accounts.
 
Citing "recent regulatory developments" in its email to affiliate marketers, the company appeared to hold some hopes for a return, raising the possibility that it may work with them again at some future point.
 
Highlights of the new Act include:
 
* A requirement that operators - even those from other EU nations - take out local licensing;
 
* Operators must disclose full ownership details and make a security deposit of up to Euro 1.9 million, and they must provide proof of Euro 2 million in own equity;
 
* Applications will not be accepted from companies that have outstanding public debts, or any history regarding criminal activity, bankruptcy or liquidation;
 
* Online casino and poker operators face a 35 percent tax on GGR, whilst sports betting firms and lotteries are required to pay taxes based on 23 percent of GGR;
 
* Both categories also pay a 19 percent corporate tax;
 
* Live dealer gambling - a popular element with online casino players - is not permitted;
 
* The Act includes enforcement provisions such as ISP and financial transaction blocking against unlicensed operators, along with a heavy fine structure for offenders.
 
The tough requirements, and in particular the high tax rate, may discourage many from applying, although the government expects larger corporate betting companies to continue to service the market under the new licensing regime.
 
That optimism has not so far been justified; official figures from the Ministry of Finance show that to date applications - all from major companies - have yet to reach double digits.



Gambling News :

Games Concept Day in Malta - The Quickfire Games Concept Day is the second full-day workshop to date, the first being held in Gibraltar in July.

AFC’s fight against match-fixing - The Asian Football Confederation (AFC) has introduced a new AFC integrity mobile application, which will enable fans, players and officials to report possible suspicious activities or provide information concerning match-fixing or corruption to the AFC Integrity Unit.

PartyPoker Removes Dormant Account Fees - partypoker today announced that players will no longer be charged fees for inactivity on their online accounts.

NHL Odds: Rangers Look for Seventh Straight in Chicago - The Chicago Blackhawks (8-8-2) will try to get their season on track this Wednesday when they host the surging New York Rangers (9-7-2) in an Original Six showdown. NBCSN has the coverage beginning at 8 PM ET.

ACR $1,400,000 High Five Tournament Series - It has five added tournaments a day for five straight days, with the $420k Main Event on the final day. There are Texas hold’em and PLO game types, and tons of structures.a

Microgaming named in The 10 coolest offices of 2017 - Microgaming named in The 10 coolest offices of 2017 Microgaming’s new HQ has been named in ‘The 10 coolest offices of 2017*’ in the UK, featuring alongside some of the biggest consumer brands.

$75K Win on Mobile Slot @ CafeCasino - Café Casino’s mobile slot, Achilles, paid out in a big way over the weekend. A player from Pennsylvania, Rob J., triggered the game’s free spins mode by landing three scatters.

Microgaming’s The Phantom of the Opera online slot live today - Available to Microgaming and Quickfire operators, The Phantom of the Opera online slot goes live Wednesday 1 November 2017.

2017 Punta Cana Poker Classic Results - The 2017 Punta Cana Poker Classic is now in the books and players are returning home after a week-long poker celebration. And after a major final table deal, two players have the most reason to celebrate. Roberto Carvallo ultimately won the tournament after negotiating a final table deal with Jamin Stokes.

NHL Odds: Winnipeg Jets vs. Minnesota Wild - Blake Wheeler and the Winnipeg Jets will attempt to get two points closer to the Central Division lead on Tuesday, as they take on the Minnesota Wild on the road. The Jets have started strong, and sit in second place in their division. Led by RW Blake Wheeler, the Jets look like a team that could make some noise in the West this season.

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