Daily news

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    A lawmaker in the Philippines has proposed a new 5% tax on revenue generated by the country’s licensed online gaming operators, with the move securing the backing of the country’s finance secretary Carlos Dominguez III.

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    Board members at Flutter and The Stars Group further outlined the details of the synergies from the companies’ mega-merger, while also assuring stakeholders that the deal would pass any competition-related hurdles.

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    One in ten young people in the UK are accidentally spending money on in-app purchases, while more than 95% of those aged between 11 and 18 currently use a gaming app on their mobile or tablet, according to a new report by the Safer Online Gambling Group.

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    GVC Holdings has revised its full year profit projections upwards for the second time this year after the operator’s online and European retail growth helped offset a weaker performance from its UK retail arm.

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    A syndicate of eight investment banking groups have been selected to work on the privatisation of French state-owned gaming operator La Française des Jeux (FDJ).

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    The Oregon Lottery has revealed that it expects to generate $141.2m in revenue over the first three years following the launch of its SBTech-powered retail and mobile sportsbook. 

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    The Gaming and Lotteries (Amendment) Bill 2019, Ireland’s placeholder legislation for the country’s betting and gaming sector, has progressed to the committee stage in the Dáil Éireann. Meanwhile Minister for Finance Paschal Donohoe has confirmed that work on an alternative tax system for independent bookmakers to replace the 2% turnover tax is ongoing.

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    Land-based and online betting and gaming operator Betfred has posted a loss of £40.7m for its financial year ended September 30, 2018.

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    Revenue from regulated gambling in the Czech Republic fell 21.3% in 2018 to CZK31.3bn (£1.1bn/€1.2bn/$1.4bn), with the decline down to a lower contribution from slot machines.

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    New figures from the Swedish Tax Authority and gaming regulator Spelinspektionen suggest that net gaming revenue for Sweden’s land-based and online gaming market amounted to SEK6.0bn (£479.9m/€559.0m/$626.0m) in the first quarter of 2019.

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    Unibet operator Kindred Group has reported an 8.0% year-on-year rise in revenue for the first quarter of 2019, though has seen earnings impacted by costs associated with its launch in Sweden’s newly regulated igaming market.

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    Sweden’s newly regulated igaming market has generated total turnover of SEK3.29bn (£271.3m/€313.8m/$352.8m) in the first quarter of the year, with former horse racing monopoly AB Trav och Galopp (ATG) dominating the channel. Svenska Spel Sport & Casino and ATG accounted for 50% of online market turnover over the three month period.

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    The European Gaming and Betting Association (EGBA) has called on the Portuguese authorities to review the country’s online gaming tax rate following reports that as many of 75% of players gambled via unlicensed sites in 2018.

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    Playtech has reported a 54% year-on-year increase in revenue for 2018, though growth for the year was largely down to the acquisition of Italian operator Snaitech, with the solutions giant’s B2B division struggling.

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    France’s online gaming market reported year-on-year growth across all three legal verticals in 2018, with the sports betting vertical the standout performer. However ARJEL has suggested that with growth in other verticals still slow, a shift to a revenue-based tax regime may be key to safeguarding the industry in the long-term.

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    Paddy Power Betfair has pledged to appeal against legacy tax assessments in Greece and Germany, claiming that the sums being demanded are far greater than revenue generated in either market.

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    More than 70 MPs are calling for changes to be implemented earlier

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    Changes in FOBT regulations will also be delayed until October 2019

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    Operator has filed a formal complaint with the European Commission

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    The UK Gambling Commission (UKGC) has revealed it issued more than £18m (€20.1m/$23.6m) in fines to gambling companies during the past financial year

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