Tuesday September 01,2015 :  CZECH GOVT LOWERS PROPOSED BETTNG TAX (Update)

Increases slot machine taxes.

Czech social democrat parties ANO and Christian Democrats have agreed changes to a proposed rise in betting industry tax from 25 percent to 23 percent, Reuters reports.

The lower increase in betting tax, which currently stands at 20 percent , will significantly benefit market leaders such as Fortuna Entertainment Group.

"We agreed in the coalition council that this amendment should be filed," Roman Sklenak, Social Democrat caucus chief said.

According to Hospodarske Noviny business paper, Fortuna Entertainment could save around 30 million Czech crowns ($1.26 million) due to the lower-than-planned tax in 2016.

But not positive news for slot machine manufacturers who will be subjected to 28 percent tax, 3 percent more than the proposed increase.  Operators will also be subjected to a 110 crown per machine per day fee.