Daily news

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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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    Australian operator Tabcorp has rejected claims by Racing Queensland that its UBET subsidiary was not entitled to withhold AU$11m (£6.2m/€6.9m/US$7.7m) in response to a new point of consumption tax in the state.

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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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    Five of the UK’s leading sports betting operators have voluntarily agreed to increase funding for problem gambling treatment and safer gambling.

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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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    The Czech Republic’s Ministry of Finance has confirmed that it will increase the tax rate on certain gambling activities in the country from January 2020. Taxes will be split into three levels, according to how harmful the government perceives the activity to be.

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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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    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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    Total prize money contribution will be £15.3m in 2019, down from £17.5m in 2018

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    Operator has filed a formal complaint with the European Commission

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    Campaigners had been keen to lower the rate to 15%

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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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    The Australian Capital Territory (ACT) government has announced a new 15% point of consumption (POC) tax on gambling operators

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    British Horseracing Association (BHA) chief executive Nick Rust has said cutting the top stake on fixed-odd betting terminals (FOBTs) will have a “significant” impact on the sport

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    Tabcorp has revealed plans to sell off its Odyssey gaming machine monitoring business to help ease concerns over its proposed merger with Tatts Group.

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    The British Horseracing Authority (BHA) has turned down a proposal from Coral to contribute a rate of 7.5% of profits for retail and remote betting activity as part of the national governing body’s authorised betting partners (ABP) scheme.

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    Italian authorities have announced that they are to introduce new tax rules for online sports betting operators in the country, confirming that companies will now pay a 22% tax on betting revenue.

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    The Czech Republic looks set to raise tax on gambling winnings after lawmakers in the country’s lower house gave their initial approval to a bill that would allow for an increase.

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