ComeOn launches Hajper.com in Sweden Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 4th June 2018 | By contenteditor Regions: Europe Nordics Sweden Casino & games Topics: Casino & games Tech & innovation Cherry-owned ComeOn has rolled out new casino brand Hajper.com in Sweden Cherry-owned ComeOn has rolled out new casino brand Hajper.com in Sweden. Hajper.com becomes ComeOn’s second brand in the country after the company launched Snabbare.com in December last year. ComeOn said the new platform will offer faster withdrawals and casino play to consumers in the country, with Hajper.com to send any funds 15 minutes after request. Tomas Johansson, interim chief executive of ComeOn, said: “Following the launch of Snabbare in Sweden and Nopeampi in Finland, we are happy to be able to bring yet another exciting brand to the Swedish customers. “With Hajper we hope to cater for a larger portion of the Swedish market, with a brand that will be different in both play features and marketing concepts.”Related article: ComeOn names Merzoug as managing director Subscribe to the iGaming newsletter Tags: Online Gambling
AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Revenue, profit and EBITDA also up in second quarter as World Cup drives growth Kindred Group has cited the impact of this year’s Fifa World Cup football tournament as the main driver behind a record number of active customers on its platforms in the second quarter.A total of 1.55 million Kindred players were classed as active in the three months to June 30, up 32% from 1.17 million in the same period last year. The World Cup ran from June 14 to July 15 in Russia.“The World Cup provided a significant all-time high in customer activity and continued strong organic growth, and unexpected results led to a sportsbook margin of 8.2% after free bets,” Kindred chief executive Henrik Tjärnström (pictured) said.He added during an earnings call this (Wednesday) morning: “We’re very much continuing the trend of increasing our active customers and we very much believe this is the best way to grow our business.“The 2018 World Cup was expected to be the biggest ever event for us at Kindred. Every other year when we have a major football championship I’m very pleased to see everyone across the company deliver to ensure we are ready for such a big tournament.”Increased activity around the World Cup also led to a rise in key financials during the period, with revenue up 31% year-on-year to £219m (€246.5m/$288.3m). Underlying EBITDA hit £41.7m, up from £33.4m, while profit after tax climbed from £20.4m to £25.5m.For the first half of the year, revenue increased by £319.8m to £426.8 and underlying EBITDA jumped from £63.7m to £89.2m.Kindred, which counts 32Red and Unibet among its brands, has increased its headcount to more than 1,400 worldwide, with nearly 50 new hires in the three months up until the end of June.In April, in order to provide more capacity for its workforce, Kindred relocated its two Malta-based offices into a single high-tech space at Tigne Point. The company employs more than 400 people in Malta alone. World Cup boosts Kindred customer numbers Topics: Finance Sports betting Subscribe to the iGaming newsletter 25th July 2018 | By contenteditor Finance Regions: Europe Southern Europe Malta Email Address
This week we talk; Wire Act, tenuous ad arguments and the price of success for Denise Coates Regions: Europe US 23rd November 2018 | By Hannah Gannage-Stewart Topics: iGB Diary Happy Friday igamers! This week’s meddlesome missive considers the reignited debate around the Wire Act, tries to understand ITV’s stance on gambling ads and looks at whether Denise Coates should doing more to cure the country’s societal ills!Begging letters Congressional Republicans’ on-going campaign to bury deputy Attorney General Rod Rosenstein with correspondence regarding the Wire Act and igaming is the political equivalent of two kids chorusing “are we there yet” at their increasingly beleaguered parents on a five-hour car journey. Wisconsin congressman Jim Sensenbrenner’s the latest to pick up a pen. It’s quite hard to see what the ultimate goal is here. In 2011, the New York Lottery and Illinois Governor’s Office asked the Department of Justice’s lawyers for clarification on the Wire Act, in relation to online lottery sales. It got one. This, however, seems not to have been the clarification many politicos wanted. Have our intrepid Mr Smiths gone to Washington to reassert a ban on igaming by carefully drafting legislation, garnering cross-party support and triumphantly having it enshrined in federal law? Of course not. Despite these lawmakers’ concerns – whisper it – Washington doesn’t want to stop states from regulating gambling. The public want it. State coffers definitely want it. Even the professional sports leagues want (a piece of) it. There’s also a fairly pungent whiff of skewed priorities. Lest we forget, the DOJ is busy contending with the small matter of lacking a chief, after Jeff Sessions was unceremoniously tipped out of the Attorney General’s chair earlier this month. Sensenbrenner’s letter also called on Congress to ensure “the public is protected” from the dangers of gambling. He has voted in favour of reducing the waiting period to buy a gun to one day, and to prohibit product misuse lawsuits being brought against gun manufacturers. Excuse us if we find sudden concern for protecting the public a tad insincere.ITV cleaning up? We all know that this year gambling advertising has been a hot topic in the UK, and particularly during the World Cup. The ITV games broadcast during the tournament attracted widespread criticism for an excess of gambling ads – in total gambling ads took up almost 90 minutes throughout the ITV matches, accounting for 17% of all ad time. It was therefore rather ironic to read about the channel’s soon-to-launch gritty new drama about a woman with online gambling debts, particularly as the actress playing the leading role, Sheridan Smith, told i News: “A lot of gambling adverts are aimed at females in the daytime; they are pink, glossy things. Gambling on the phone doesn’t seem real but pretty soon people get in debt.” Not to worry though, as apparently ITV told i News it would try to make sure no gambling adverts were run during Cleaning Up. Presumably it’s business as usually the rest of the time. Misdirected anger It was perhaps to be expected that Denise Coates’ bumper pay packet would attract some debate, as it has in previous years, but The Guardian’s coverage seems to have descended from biased to plain bizarre. As well as an article entitled, “Bet365 founder paid herself an ‘obscene’ £265m in 2017”, which rather predictably trots out the usual quotes about how people working in gambling should not be making so much money and throws in problem gambling and child gambling for good measure, she also features in an opinion piece on inequality. Polly Toynbee’s column yesterday came with the strapline, “Bet365’s Denise Coates pays herself £265m while one in 200 people are homeless: no wonder the country is so unhappy”. It’s not really clear how Coates is responsible for the homelessness and wider inequality Toynbee writes about, although she takes a swipe at her having been awarded a CBE. Whether you like the gambling industry or not — and clearly The Guardian does not — it’s a bit much to associate Coates with homelessness and poverty when bet365 is one of the few British igaming companies to remain onshore, keeping thousands of jobs in Stoke that otherwise wouldn’t exist. And as even The Guardian points out in its main article, salaries across the board are high at bet365 — so yes, she’s paying herself a lot, but also everyone else, unlike many other companies with highly paid CEOs. If England is “angry” as Toynbee claims, directing that anger towards Coates is misguided.That’s all for this week – have a fabulous weekend! Subscribe to the iGaming newsletter Email Address iGB Diary AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Online Gambling iGB Diary: Correspondence, TV ads and another bumper pay day for bet365
Topics: Legal & compliance Marketing & affiliates Email Address Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tom Grant runs the rule over new ASA guidelines aimed at curbing what it sees as the irresponsible use of anmated characters, celebrities and influencers in gambling marketing Legal & compliance ASA: Curbing the appeal Tags: Online Gambling New, stricter guidelines have been issued by the ASA in an effort to stop what it sees as the irresponsible marketing of gambling products, writes Tom Grant. Coming into force from April, the changes will see animated characters, celebrities and some influencers banned from advertsWhen was the last time you heard an eight-year-old deliberating whether to attend a friend’s birthday by bemoaning the fact that “it’ll take ages to get there and, even when we do, there won’t be anywhere to park”?My experience of spending every weekend ferrying my kids from cinemas to football training to bowling alleys tells me that the answer is… never. One of the most striking differences between adulthood and childhood is the ability of most adults to apply reasoned thought and, indeed, a degree of cynicism to our choices in life.The research on this as it pertains to gambling is extensive and well established: children have not yet fully developed the cognitive skills to properly understand the chasmic divide between ‘luck’ and ‘skill’ or between ‘possibility’ and ‘probability’.The primary focus of the Advertising Standards Authority’s regulatory statement issued on 13 February is to ensure that gambling advertising protects children and young people. Given the current climate, that is hardly surprising. The ASA’s guidance note (the “Guidance”) will come into force on 1 April 2019 but gambling operators should be taking steps now to ensure that they’re compliant.The basic principle of the existing CAP and BCAP Codes (the “Codes”) remains unchanged, namely that children’s exposure to gambling advertising must be limited and, where they are exposed to adverts directed at adults, those adverts are not likely to influence them detrimentally.What the Guidance does is to provide some additional flesh to the existing rules while providing operators with some key indicators as to the processes it should have in place to ensure that it is compliant. The following summarises seven deadly sins that the Guidance addresses: 1. Game titles – consistent with many recent ASA rulings, the Guidance underlines that operators are required to avoid using game titles incorporating specific characters familiar to children as well as more general themes and imagery directed at children. Presenting any characterisation in a way that is to be of likely appeal to under-18s will fall foul of the Guidance so operators should move swiftly to audit their game portfolio and assess all current and future titles against these criteria.2. Game tiles – the Guidance requires that the use of game tiles that often feature on home pages do not display titles that are of appeal to underage groups. Many content licence agreements require operators to prominently display the content provider’s games on their websites and so operators should ensure that they’re not placed in breach of those contractual obligations by virtue of these overriding compliance responsibilities. One way of achieving this may be to have a selection of image-compliant game tiles before players have registered or logged in which differ to those that may be accessible thereafter.3. Licensed characters – there has been a proliferation of rulings against operators in the last couple of years for the use of licensed characters in marketing communications which are of likely appeal to an audience, given the originating source of those characters. Clearly, the use of comic book characters and super heroes would certainly infringe the Codes but the same would apply to most animated characters and the Guidance provides useful examples.4. Social media – when using social media for gambling advertising, marketers must take steps to ensure that they’re confident of the audience composition. While this isn’t necessarily a foolproof exercise, there are tools available that can assist to prevent under-18s from being targeted. If nothing else, use of those tools would present a compelling defence where complaints are made as the ASA will assess the efforts that have been made to understand the audience and the steps taken to exclude underage groups.5. Influencers – selection of influencers on social media to promote products or brands isn’t an exact science either but marketers should carry out proper prior due diligence by assessing all available audience data in respect of any influencer under consideration. The rule of thumb here is that under-18s should not comprise more than 25% of the audience of any influencer. The secondary rule of thumb is that, if in doubt, then “marketers should exercise caution”.6. Sports people and celebrities – the requirement that sports people or celebrities who feature in marketing communications should not be (or should not appear to be) under 25 has not changed but the Guidance emphasises that individuals over 25 should not “have a significant profile among under-18s”. However, this introduces an element of subjectivity; for example, Cristiano Ronaldo (aged 34) is likely to have a higher profile with young persons than the self-styled “boring” James Milner (aged 33) but it is incumbent on marketers to assess the information available to it to make such judgments.7. Affiliates – the Guidance re-emphasises that gambling operators must ensure that its affiliates comply with the CAP Code but that responsibility ultimately rests with the operator. Hence operators should ensure that their affiliate terms are robust so that affiliates are contractually obliged to comply with the CAP Code and all relevant guidance.In terms of process, one of the themes that runs throughout the Guidance is the reasonable expectation that marketers should be able to demonstrate that they have acted diligently. In planning campaigns, marketers should take appropriate steps to understand their likely audience.This would include undertaking suitable research into the likely recipients of their ads and proper use of all available tools to exclude underage groups from the audience, particularly in relation to social media platforms. In the event that an advert is challenged, the ASA will expect marketers to provide “robust evidence that they have been diligent in forecasting the likely audience”.Gut instinct would not satisfy this requirement and marketers would be well advised to document every step taken in relation to each campaign in order to demonstrate the pre-emptive measures that were taken to comply with the Codes.Pre-campaign checklists that are properly populated for each campaign would certainly provide compelling evidence in mitigation where the ASA receives complaints.All of the points outlined above are nothing more than a ‘highlights reel’ and anyone who works within this sector should take the time to read the guidance and ensure that it really understands what is required. There is a tightrope to walk and the Guidance provides ample advice as to how to avoid falling off. Tom Grant is the founder of Grant Legal, a commercial law practice based in London, which predominantly advises on contractual matters within the gaming sector. Prior to setting up his own firm, Tom spent more than 12 years working for other law firms and in-house with gaming companies. 7th March 2019 | By Stephen Carter Regions: UK & Ireland
Topics: Legal & compliance Sports betting Horse racing Horse racing AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter New Zealand launches plan to revitalise racing industry Email Address 17th April 2019 | By contenteditor Regions: Oceania New Zealand The New Zealand government has announced a series of measures to revitalise the country’s horse racing sector, with a point of consumption tax to be levied on offshore bookmakers for the first time.The country’s deputy Prime Minster Winston Peters, who also holds the Minister for Racing portfolio, is to introduce two pieces of legislation in response to a review of the New Zealand racing industry by Australian racing expert John Messara.“The New Zealand racing industry is in a state of serious decline,” Peters said. “The Coalition Government supports the overall intent of the Messara Report and is committed to reforms.“We know we have the grass, the race animals, and the people to help the industry achieve its potential.”The first bill will see the New Zealand Racing Board (NZRB) replaced by Racing Industry Transitional Authority (RITA), which will take responsibilty for developing a new governance structure for the sector.“It is essential to have this transitional governance in place,” Peters explained. “RITA will have a legislative mandate that encompasses change management as well as the current business-as-usual functions and powers of the NZRB.”To help improve the New Zealand racing industry’s finances in the short-term, the bill also sets out a range of new taxes, including the new point of consumption levy and race field fees.This bill, which Peters aims to implement by July 1, 2019, does not set out a point of consumption tax rate, though a policy document on the measure noted that a 2% turnover tax could raise up to NZ$24m for the country’s horse racing sector.However it does not go as far as to introduce a licensing system. The policy paper says that doing so would “effectively be a formal opening-up of the New Zealand online bookmaking market, which would threaten the NZRB’s statutory monopoly”.New Zealand’s 2003 Racing Act will be amended to make the point of consumption tax a legal requirement for all operators targeting players in the country. The Department of Internal Affairs, which oversees horse racing in the country, will work alongside the Finance Ministry to enforce and collect the tax.This may prompt push-back from the betting industry, with operator associations previously warning the New Zealand government against plans to enforce the tax without a licensing regime in place. ESSA has previously argued that opening up the market would be much more effective in channelling players to legal forms of gambling. The point of consumption tax will be accompanied by race field fees, which will see operators charged for using racing and sporting data from New Zealand, similar to copyright charges for use of intellectual property.“The Racing Board has always championed the need for race fields legislation in New Zealand, and so it is great to see a new bill being introduced through Parliament,” NZRB chair Glenda Hughes said. “Race field [fees are] more than just revenue for the racing industry, it goes to the heart of the structure of our gambling regulation.“Achieving race field [fees] and the estimated $1m a month it will deliver for racing has been a priority under the current board of directors over the past six years and it is positive news for the industry that an outcome is now within sight.”In addition, the New Zealand Racing Board (NZRB) will be permitted to offer betting on sports that are not represented by a qualifying national sporting organisation. This will significantly expand the range of sports on which NZRB entities can offer odds.The second piece of legislation is due to be published later this year, and will finalise a new governance structure for the market.This may see the NZRB replaced entirely, with Wagering New Zealand (WNZ), a new entity established to oversee betting. Racing New Zealand (RNZ), meanwhile, would handle all racing and integrity-related manners alongside the country’s racing codes. Subscribe to the iGaming newsletter Tags: Mobile Online Gambling Race Track and Racino The New Zealand government has announced a series of measures to revitalise the country’s horse racing sector, with a point of consumption tax to be levied on offshore bookmakers for the first time.
Affiliates are in the box seat to capitalise on the emerging opportunity esports presents to a wider community of stakeholders, argues Geoffrey SmorongWhen G2 Esports defeated Team Liquid in the grand final of the 2019 League of Legends Mid-Season Invitational (MSI), the club emerged with more than just bragging rights. They also took home $400,000 and the opportunity to further monetise their success through limited edition MSI Champions T-shirts and other merchandise. The glory bestowed on G2 Esports was yet another example of the emerging opportunity that esports presents to a wider community of stakeholders. iGaming affiliates and operators are among those capable of drawing points of comparison between esports and more traditional sports, such as football, basketball, hockey and NFL football.That comparison, however, needs to be driven by an approach that is reasoned, pragmatic and inclusive. The months ahead should provide those stakeholders with some of the most valuable data on the subject to date.The next big thing Part of the excitement surrounding esports is based on its potential as ‘the next big thing’ in the realm of international team competition. This is despite the most optimistic of projections continuing to put esports viewership well behind that of the NFL for years to come. Fortunately, the rest of 2019 should provide prospective affiliates with some entertaining, potentially enlightening, comparisons to help evaluate the enthusiasm of one emerging product against the deep-rooted cultural significance of another. That the premise can even be entertained represents a modest win for esports.Monitoring the progression of this narrative will help affiliates to better appreciate and understand where and how to focus on esports in both the short and long-term.The Fortnite World Cup Finals, which will be held in Queens, New York from 25th to 28th July and the NFL preseason kickoff on 1st August, will each be worth watching for their respective data points as much as for the action itself. The Fortnite Finals are also notable for a $30m prize pool of which the champions will take home $3m.But this comparison will never be about monetary compensation, considering the NFL has 20 players set to make over $20m this coming season. The merits of greater interest, especially where affiliates are concerned, pertain to momentum, marketability and engagement. A more qualitative comparison can be found in how each product confronts the need to acknowledge its broader audience.Engagement and growth On 20th August, less than a month after Fortnite crowns its champion, The International, an annual Dota 2 tournament, will descend on Shanghai for its first-ever appearance in an Asian country. The tournament, which at the time of this writing is on pace to surpass last year’s $25.5m prize pool, does have a relationship with the Asian market as China has 11 top three finishers in eight years.However, as the NFL has found with their increased presence in the UK (i.e. 16 London games in the last five years), the more sustained an organisation’s role, the more engagement they can expect in return.Emphasising this point is the forthcoming launch of London’s NFL Academy this September, where student age 16 to 18 will receive instruction from full-time coaches. The esports industry, like the NFL, is showing an appreciation for the benefits of extending the reach of its influence.On the topic of expansion, one which is always up for discussion across North America’s four major sports leagues (i.e. NFL, NBA, NHL and MLB), esports is an industry designed for growth. In fairness to the “big four”, as well as European football clubs, the overhead costs of the average esports team cannot begin to compare to those operations.A prime example of growth in esports are the eight expansion slots that were made available ahead of the 2019 season of the Overwatch League (OWL), bringing the league total to 20 teams.The teams, which reportedly spent upwards of $40m each for their slots, are indicative of esports’ global appeal as Atlanta, Chengdu, Guangzhou, Hangzhou, Paris, Toronto, Vancouver and Washington D.C., are all home to new franchises.Another distinguishing trait of the OWL, which is operated by Blizzard Entertainment, is that it aspires to operate on a city-based structure where teams would have home venues to foster fervent fanbases and passionate rivalries. It is a far cry from the enmity that surfaces when Liverpool and Manchester United take to the pitch or when theGreen Bay Packers and Chicago Bears clash in one of the NFL’s oldest rivalries. But it nonetheless lends momentum to a future filled with potential.What does that potential mean for affiliates?The affiliate approach Affiliates are in an enviable position when it comes to strategising for an esports market that is rife with engaging personalities, big-picture thinking and celebrity influence. The latter of these points is bolstered by the involvement of household names like Steph Curry, Michael Jordan, Odell Beckham Jr. and Drake.The industry even has its own annual awards show to recognise the best across a variety of categories, including ‘Personality of the Year’. Last year’s winner in the category was Tyler “Ninja” Blevins, who has over 4.3m Twitter followers and more than 14m on Twitch, the Amazon-owned live streaming platform.One of the most consistently cited strengths of successful affiliates is an ability to adapt to changing environments and identify optimal methods for engaging diverse target audiences. This will be an important skillset in understanding the mindset and motivations of a prospective esports bettor compared with those of a typical punter.A speculative yet optimistic approach to esports, will position affiliates to respond appropriately to opportunities in emerging markets. This also applies to the US market where many affiliates, operators and suppliers, closely monitor legislative developments on a state-by-state basis.While projections for the future of esports vary and merit constant evaluation, affiliates also know better than any industry stakeholder the challenge of waiting too long to cultivate a loyal customer base. The question of whether to adopt a corresponding engagement strategy is one that affiliates will need to reflect on in the months to come while evaluating the potential cost of inaction. As director of client services for Paysafe’s Income Access, Geoffrey Smorong focuses on the daily operation and management of all Income Access client-facing activities. In addition to ensuring clients have access to responsive and reliable support, he is also a strategic leader in identifying market growth opportunities as well as product development and project management. Esports 3rd June 2019 | By Stephen Carter Affiliates are in the box seat to capitalise on the emerging opportunity esports presents to a wider community of stakeholders, argues Geoffrey Smorong Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Esports Rising: How affiliates can stay ahead of the game Tags: Online Gambling Topics: Esports Sports betting Email Address
Email Address Subscribe to the iGaming newsletter Casino & games Second casino diversity scholarship programme launches 19th June 2019 | By contenteditor A trio of high-profile industry bodies will offer a second scholarship for a female executive to participate in one of the industry’s leading executive training programmes.The scholarship, organised by the European Casino Association (ECA), Clarion Gaming and the Association of Gaming Equipment Manufacturers (AGEM), will guarantee the winner a place on the University of Las Vegas and University of Nevada, Reno’s Executive Development Programme (EDP).The EDP is a gaming leadership course that has been running for the past 29 years, developed in partnership with the University of Las Vegas’ International Gaming Institute and the University of Nevada, Reno’s College of Business and Extended Studies.“We simply love this initiative, as it expands leadership in ways that will generate benefits for years to come,” UNLV International Gaming Institute executive director Bo Bernhard said. “Over the past years, EDP has become the world’s leading gaming executive development academy, and this effort helps show our leaders how to be leaders of diverse and increasingly global teams.”It is designed to help participants build leadership and management skills, with the 2019 edition to cover areas such as the social impact of gambling, igaming, casino marketing and new technologies.“We are proud to once again award a scholarship to an aspiring woman leader to take part in this outstanding programme,” ECA chairman and 2010 EDP graduate Per Jaldung said.“The diversity of topics covered, together with the high-level experts attending, makes this course an exceptional opportunity to develop the skills that will serve future leaders to meet the challenges and opportunities of the industry, while the international dimension allows for the exchange of ideas and best practices.”The scholarship offered by the ECA, Clarion Gaming and AGEM is open to female executives in the European land-based casino sector and part of the partners’ efforts to support and promote gender equality in the industry.The scholarship will cover travel costs, accommodation and the programme fee, with an overall value of more than $10,000, with the winning applicant selected by judges from each of the participating organisations.AGEM will be represented by director of Europe Tracy Cohen, who said she was “delighted” to partner the ECA to offer the scholarship.“The importance of attracting women who are rising stars in the industry and providing opportunities for them to take their careers to the next level is something AGEM wholeheartedly supports,” she added.Also sitting on the judging panel will be Pauline Boyer Martin, winner of the 2018 scholarship, representing the ECA, Joanne Gipson of the University of Nevada, Reno and Clarion Gaming managing director Kate Chambers.“The Executive Development Programme represents a fantastic opportunity for the nominated candidate to accelerate her career and prepare for a leadership role within this exceptional industry,” Chambers said. “The ECA should be commended for the commitment it has shown to the promotion of diversity, values that the entire team at Clarion Gaming endorse fully. “I am personally honoured to have been invited on to the judging panel and I look forward to being able to contribute to what is an outstanding initiative.”The scholarship follows the launch of a campaign by the ECA to highlight the positive economic impact of the land-based casino industry in Europe. Launched in May, this aims to show how the industry tackles key issues such as compliance, money laundering controls, responsible gambling and tackling illegal operators. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games People Regions: Europe US Nevada A trio of high-profile industry bodies will offer a second scholarship for a female executive to participate in one of the industry’s leading executive training programmes.
AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Casino & games bet-at-home hit with €11.9m Austrian tax bill Betclic Everest Group-owned bet-at-home has revealed that it expects to receive an €11.9m (£10.7m/$13.1m) bill from the Austrian tax authorities, relating to the activities of its Linz-based subsidiary.This wholly-owned subsidiary, bet-at-home.com Entertainment, which in turn owns the operator’s Malta- and Gibraltar-based operating companies, is subject to an ongoing tax assessment by the Austrian Ministry of Finance.The auditors, bet-at-home said, have questioned the level of internal transfer pricing within the business.This concerns the sale of goods from one division of a company to another. Divisions in jurisdictions with a higher tax rate can pay larger sums for certain products and services from another in a region with a lower tax rate, in order to reduce a business’ overall tax burden.While it has not been confirmed that this is the cause of the auditor’s concerns, bet-at-home said that it now expects to pay €11.9m in back taxes for the five-year period following discussions with the authorities.Furthermore, it will make changes to its intercompany invoicing practices, which it said will increase taxes incurred by bet-at-home Entertainment to €5.5m in 2019.However, it added, this will be offset by a lower tax burden in Malta, meaning the changes will lead to the business paying an additional €5.0m in taxes for the fiscal year. Topics: Casino & games Finance Sports betting Regions: Europe Southern Europe Western Europe Malta Austria 10th September 2019 | By contenteditor Betclic Everest Group’s bet-at-home has revealed that it expects to receive an €11.9m (£10.7m/$13.1m) bill from the Austrian tax authorities, relating to the activities of its Linz-based subsidiary. This has prompted it to make changes to its intercompany invoicing practices, which will then see its annual tax burden increase by €5.0m. Tags: Mobile Online Gambling Email Address Subscribe to the iGaming newsletter
Subscribe to the iGaming newsletter Email Address 12th June 2020 | By contenteditor Legal & compliance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: Canada Topics: Legal & compliance Sports betting A coalition of major North American sports leagues have publicly expressed their support for single-event sports betting in Canada. Major leagues throw weight behind Canadian betting push A coalition of major North American sports leagues have publicly expressed their support for single-event sports betting in Canada.In a joint statement published by the Canadian Gaming Association (CGA), the National Basketball Association (NBA); National Hockey League (NHL); Major League Soccer (MLS); Major League Baseball (MLB) and the Canadian Football League (CFL) hailed efforts to allow legal betting.“Sports betting gives fans another exciting way to engage with the sports they love,” the leagues said. “Because a legal and regulated sports betting market in Canada would be beneficial to sports and their fans, we urge prompt action to make this a reality.“Sports betting already happens illegally in Canada; creating a legal framework would shift consumers from illicit, unregulated markets to a legal and safe marketplace. Regulating single-game betting would allow for strong consumer protections as well as safeguards to further protect the integrity of sports.”Read the full story on iGB North America.
7th September 2020 | By contenteditor Tags: Race Track and Racino Regions: US Michigan Topics: Legal & compliance Sports betting Horse racing The Michigan Gaming Control Board (MGCB) has approved Churchill Downs Incorporated (CDI) to begin offering advance deposit wagering (ADW) on horse racing to players in the state.Under an order issued by MGCB executive director Richard Kalm, CDI will now be able to accept mobile bets on live and simulcast pari-mutuel horse races.CDI will support the offering through a third-party partnership with Northville Downs, the only licensed racetrack in Michigan.In December last year, Michigan’s Horse Racing Law of 1995 was amended so that race meeting licensees in the state could use contracted third-party partners to offer betting on live and simulcast pari-mutuel racingPlayers can create an account with the third-party facilitator – in this case CDI – and place bets online or via mobile on pari-mutuel races.“Michigan horse racing fans now have more options for placing bets from anywhere in the state on horse races with Northville Downs using mobile wagering,” Kalm said.Read the full story on iGB North America. Michigan clears CDI for advance-deposit wagering Email Address AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Horse racing The Michigan Gaming Control Board (MGCB) has approved Churchill Downs Incorporated (CDI) to begin offering advance deposit wagering (ADW) on horse racing to players in the state.