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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.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
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