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Codere turnover 820 MEUR H1 2012, Yogonet

Codere turnover 820 MEUR H1 2012, Yogonet | Poker & eGaming News | Scoop.it

Turnover during the first half of 2012 totalled 819.7 million euros, 29.7% more than in 2011. The Gross Operating Profit, EBITDA, reached 155.5 million euros during the first
half of the year, representing an increase of 15.3% with respect to the previous year. In the second quarter 2012, EBITDA totalled 76.8 million euros, exceeding the company’s forecast for this period, which had estimated this figure at around 68-71 million euros.

 

In Argentina, turnover totalled 328.1 million euros, up 27.5% with respect to the previous year, while EBITDA amounted to 89 million euros. This growth stemmed primarily from an increase in the number of terminals, 11.1% more than in 2011, and from the average daily revenues obtained per machine, an increase of 18.5% in euros.

 

Other sources:

http://www.igamingbusiness.com/content/codere-first-half-turnover-rises

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Online gambling is saving the Spanish economy, Gambling Compliance

Online gambling is saving the Spanish economy, Gambling Compliance | Poker & eGaming News | Scoop.it

Online gambling operators made €116m in Spain in the second half of last year, according to the Spanish gambling regulator’s first official data on the newly regulated market.

That figure rises to €300m if pool betting offered online by state lottery Loterias y Apuestas del Estado (LAE) is included, according to the DGoJ’s inaugural annual report.

 

Together they accounted for almost half of the Spanish market last year and LAE contributed a whopping €3.3bn in tax, or 69 percent of the state’s take from gambling.

 

The state lottery will provide €6bn of the package designed to help plug regional deficits, economy minister Luis de Guindos announced after Friday’s cabinet meeting.

 

At a time when one in four Spaniards are unemployed and protests are becoming ever more hostile, the DGoJ report spells out the 180,000 jobs provided by LAE and other gambling firms.

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888 Poker success in Spain, Share Price Rises 14 Per Cent, Gambling911

888 Poker success in Spain, Share Price Rises 14 Per Cent, Gambling911 | Poker & eGaming News | Scoop.it

888 stocks sored up 14 per cent on news that company profits were “materially ahead”, due in part to a strong presence in the Spain market. The firm is now the second-biggest player in the Spanish poker market after PokerStars.

 

Other sources:

http://www.gamingintelligence.com/premium-news-and-archive/16790-888s-first-half-earnings-to-exceed-forecasts-

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SPANISH: Pokerstars and 888 dominates Spanish cash games, Pokerfuse

SPANISH: Pokerstars and 888 dominates Spanish cash games, Pokerfuse | Poker & eGaming News | Scoop.it

According to a small preliminary study:

- Pokerstars; 67%

- 888: 25%

- PartyPoker: 5%

- Bet365/iPoker: 3%

- Paf/Ongame: 0%

- LBapuestas/Microgaming: 0%

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Spain issues 277 licenses to target rogue gaming sites, Gaming Intelligence

The Spanish government issued a total of 277 online gaming licences to operators and rejected a further three licence applications ahead of Tuesday’s opening of the newly regulated market. The singular licenses issued relate to:
Poker (27)
Bingo (26)
Roulette (31)
Blackjack (28)
Baccarat (19)
Fixed odds horseracing (8)
Fixed odds sports betting (17)
Mutual horseracing (4)
Mutual sports betting (1)
Complimentary (soft) games (7)
Other mutual betting (9)
Competitions (9)

 

Following publication of the names of licensees, Spain’s sanctions regime against unlicensed operators will come into effect. Any unlicensed websites serving the Spanish online gaming market after this date will be subject to closure and fines of up to €50m for the most serious offences.

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No More Legal Online Bingo in Spain, GamingZion

No More Legal Online Bingo in Spain, GamingZion | Poker & eGaming News | Scoop.it

There is one gap in the new laws and it is a deadly gap for online bingo in Spain. According to the laws, there is no mention of it. In effect, it means that if the law doesn’t cover it, it is not legal. At least not in Spain. This leaves the bingoheads in the dust.

 

When it comes to bets on sports in Spain, live betting is no longer possible. This leaves many punters upset, especially since Euro 2012 and London Olympics are coming.

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Spain prepares for Online Gambling, iGaming Post

Spain prepares for Online Gambling, iGaming Post | Poker & eGaming News | Scoop.it

Spain’s gambling market as a whole (offline and online) rose by more than 7 billion euros from 2008 to 2010, standing at 27.3 billion euros in that year. Revenues in the online sector are estimated to be over 800 million euros ($1 billion) in 2014, according to gaming association Jdigital.

 

So far, 59 companies have applied, with only a small handful who have not met all the requirements likely to be turned down.

 

Most online gambling will not attract taxes on individual bets but firms will instead face a gross profit tax of between 10 percent and 25 percent.

 

Spain’s outgoing central bank chief warned on Wednesday that the country’s tax income may fall short, as it struggles to refinance 98 billion euros of debt and fund a deficit of 52 billion euros.

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Spain launch is delayed until June 5 at 09:00

Spain launch is delayed until June 5 at 09:00 | Poker & eGaming News | Scoop.it

The launch of regulated egaming in Spain is delayed until June 5 at 09:00 according to sources within the Spanish regulators.

 

Other sources:

http://www.egrmagazine.com/news/breaking_news_spanish_opening_delayed

http://pokerfuse.com/news/law-and-regulation/spanish-poker-rooms-delayed-until-june-5/

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888 pays 8 MEUR in Spanish back-taxes

888 confirms that it has concluded its discussions with the Spanish authorities regarding gaming duty which may be payable in respect of operations between January 2009 and May 2011 in order to secure a Spanish eGaming Licence.

 

Following these discussions 888 has completed a self-assessment tax return and made a one-off payment of €7.4 million in addition to surcharges and interest expected to be up to €1.3 million, all from its cash resources.

 

Other sources:

http://www.gaming-awards.com/NEWS/archives/10019

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Sportingbet shares slump due to Spain, iGaming Post

Sportingbet shares slump due to Spain, iGaming Post | Poker & eGaming News | Scoop.it

Shares for Sportingbet slumped by 7% today, after the group admitted that it faces an unexpected tax bill for its Spanish operations. The firm hasn’t stated how great the damage could be. Analysts expect Sportingbet’s liability to be less than e20 million.

 

Betfair has agreed to pay 10 MEUR.

 

Other sources:

http://www.gaming-awards.com/NEWS/archives/9688

http://www.gaming-awards.com/NEWS/archives/9855

http://www.cardplayer.com/poker-news/13346-sportingbet-to-pay-17-million-back-tax-in-spain

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Codere Backs Spanish Betting Expansion, Daniel Macadam GamblingCompliance

Codere Backs Spanish Betting Expansion, Daniel Macadam GamblingCompliance | Poker & eGaming News | Scoop.it

Madrid-listed Codere intends to make betting the “cornerstone” of its Spanish strategy this year as it expands into online gambling in its home market, according to its chairman and chief executive.

 

The Madrid-based company has more than tripled the number of betting points in Spain to 708 over the last two years, albeit from a relatively small base, according to first-quarter results published on Friday.

 

The bingo, casino and betting company has filed around a dozen injunctions against the largest Spanish-facing online gambling operators with mixed success.

London-listed Sportingbet was forced to shutter its market-leading “miapuesta” sites in March, but attempts to do the same to PokerStars, Bwin and Betfair have so far failed.

 

Group revenues jumped 32 percent to €403.3m in the first quarter to help earnings before interest, tax, depreciation and amortisation (EBITDA) rise 17 percent to €78.9m. Codere has become increasingly reliant on its Latin American businesses, which accounted for 74 percent of revenues, and a whopping 86 percent of EBITDA, in the first quarter of 2012.

 

Q1 Revenues by Segment

Euros (€) Q1 2011 Q1 2012
Argentina 128.6m 160.4m
Mexico 52.7m 101.2m
Italy 46.8m 64.7m
Spain 43.6m 39.4m
Other Operations:
- Brazil 0.9m 1.0m
- Colombia 7.1m 8.3m
- Panama 21.4m 22.0m
- Uruguay 4.8m 6.1m

TOTAL 305.9m 403.3m

 

Other sources:

http://www.gamingintelligence.com/premium-news-and-archive/16011-strong-q1-revenue-growth-for-codere-despite-spanish-woes

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Spanish operators backtaxed 4 years, Daniel Macadam, GamblingCompliance

Spain’s government has announced it intends to issue online gambling licences, and introduce its sanctions regime, on Friday June 1, but foreign operators are still troubled by claims for four years of back-taxes.

 

The launch date comes just seven days before the Euro 2012 football championship and raises the prospect of operators opening their Spanish sites during one of the busiest sporting fixtures of the year.

 

Foreign online gambling operators are most concerned, though, that a parallel effort by Spain’s tax agency to claim back-taxes stretching to 2007 will hinder their licence approvals. Spain’s gambling regulator will inform operators about tax due in mid-May.

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Unibet Pulls Out of Spain, Will Transfer Players to PAF, Nick Jones Pokerfuse

Unibet Pulls Out of Spain, Will Transfer Players to PAF, Nick Jones Pokerfuse | Poker & eGaming News | Scoop.it

Another big online gaming brand Unibet, that operates an online poker room on Microgaming internationally and in France, is withdrawing from the Spanish market. The move comes in advance of pending legislation in the country that will regulate online poker and other online gaming.

 

However, a deal has been struck with PAF—who runs a poker room on the Ongame as well as the GTECH G2/Boss Media platform—to offer online gaming services to Unibet customers once the belated Spanish online gaming licenses are finally issued.

 

At least 40 operators thought to be hopeful applicants, including all the major players: PokerStars, PartyPoker, iPoker, Ongame and GTECH G2 are all touted to be on the list. Microgaming will be present at least with Ladbrokes, who extended their existing agreement with the software provider to bring poker to Spain when it goes live.

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IGT/Entraction bans poker players in 50 countries - but not Italy, Nick Jones Pokerfuse

IGT/Entraction bans poker players in 50 countries - but not Italy, Nick Jones Pokerfuse | Poker & eGaming News | Scoop.it

The IGT Network, formerly Entraction, has expanded its list of blocked countries adding 20 new banned countries.

 

Banned countries include: Australia, Spain, Belgium, Cyprus, Turkey, Israel, Norway, Russia, Canada, South Africa, China, Ivory Coast, Monaco, Denmark, France and Estonia.

 

However, one notable omission from the blacklist is Italy: IGT/Entraction apparently continues to allow Italian players without the network nor any of its operators holding a license.

 

IGT, who purchased Entraction and rebranded it at the beginning of the year, was one of the first to receive approval in Nevada for an online poker license.

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Italy, France, Spain & Portugal discuss shared liquidity, Nick Jones Pokerfuse

Italy, France, Spain & Portugal discuss shared liquidity, Nick Jones Pokerfuse | Poker & eGaming News | Scoop.it

The regulators from four European countries convened in Barcelona recently for a two-day meet to discuss regulatory co-operation. As part of a general discussion on information sharing, the regulators discussed the possibility of shared liquidity in online poker.

 

The meeting took place June 19-June 20 between the Italy’s AAMS, France’s ARJEL, Spain’s DGOJ and the Portuguese Santa Casa da Misericordia de Lisboa (SCML), a charitable institution that operates the Portugal National Lottery.

 

Other sources:

http://www.insidepokerbusiness.co.uk/poker/news/1339/european-regulators-discuss-liquidity.html

http://pokerfuse.com/news/law-and-regulation/spain-and-italy-could-share-player-pool-by-2013/

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Spanish gaming authority publishes full list of licensees, DGOJ

Spanish gaming authority publishes full list of licensees, DGOJ | Poker & eGaming News | Scoop.it

The Spanish authority for egaming (DGOJ) has published the full list of 53 licensed operators following the opening of the country’s egaming market on 5 June.

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Spanish Codere expands operations in Italy, Gaming Intelligence

Spanish Codere has acquired a 60 per cent holding in Italian DP SERVICE for an undisclosed amount. Codere said that the deal would enable the company to expand its product offering in Italy with an additional 2,000 gaming machines.

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Ongame goes live in Spain with PAF and Goalwin, Ongame

Ongame goes live in Spain with PAF and Goalwin, Ongame | Poker & eGaming News | Scoop.it

PAF and Goalwin are joining Ongame’s poker network in Spain. The consumer brands represented by these companies are: paf.es, goalwin.es, pokermambo.es (Goalwin) and pokerloco.es (Goalwin white label). Another 2 operators have confirmed joining Ongame and will be go public during the upcoming weeks.

 

“Ongame has been the prime provider of online poker for PAF during the last 7 years and we are pleased to announce that Ongame will power our brand in the Spanish market as well”, says Arvid Klingström, Head of Poker at PAF. “PAF has a strong brand in Spain which is further boosted by our acquisition of the Unibet player community in Spain.”

 

Chicco Merighi, President of Goalgaming, added:  “We have, with the help of Ongame, created a truly unique white label offering for Spanish operators.  In addition to our own two brands, goalwin.es and pokermambo.es, we will also power pokerloco.es. We appreciate working with a company like Ongame, which is as innovative and fast-moving as we are.”

 

Spain is the third largest offline gambling market in Europe. The Spanish online sector has great growth potential. Currently it accounts for 5.7% of the total gambling market compared to the European average of 11.2%, according to independent analysis by H2 Gaming Capital. With expected gross revenues of €82 million during 2012 online poker makes up 19% of the egaming market in Spain - one of Europe’s single largest egaming markets that is expected to grow by 15% to €504 million during the upcoming year.

 

“We are proud to once again be one of the first poker networks in a major regulated market,” says Peter Bertilsson, Managing Director of Ongame. “We have established direct contacts with all major land-based operators in addition to the online operators. Negotiations with several operators are ongoing.”

 

Ongame received its provider license for the Spanish market on Friday June 1.

 

Other sources:

http://www.innovategaming.com/2012/06/ongame-live-spain-4-operators/ http://pokerknave.com/2012/06/08/paf-and-goalwin-join-ongame-intergame/

 http://www.intergameonline.com/i-gaming/news/7482/paf-and-goalwin-join-ongame

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Spanish authorities have awarded license to more than 15 operators, Pokerfuse

Spanish authorities have awarded license to more than 15 operators, Pokerfuse | Poker & eGaming News | Scoop.it

Major poker rooms among 15 operators to confirm receipt of an online poker license; rooms will go live on the morning of Tuesday, June 5.

 

Providers:

- Ongame: Paf, Sportingbet/Miapuesta, Winga, Goalwin.es, PokerLoco.es and PokerMambo.es

- bwin.party: bwin, PartyPoker

- Microgaming/Prima: Ladbrokes/LBapuestas, Cirsa

- GTECH G2/IPN: Poker Heaven, Sportingbet, Grup Peralada, Acrismatic, Orenes Grupo, Grupo Comar, Grupo Nervion, Suertia

 

Possible providers:

- iPoker/Playtech

 

Operators:

- PokerStars

- 888

- bwin, PartyPoker - bwin.party

- Ladbrokes/LBapuestas - Microgaming

- Cirsa - Microgaming

- Betway?

- Interwetten?

- Stan James?

- Sportingbet/Miapuesta - Ongame

- Paf (including Unibet) - Ongame

- Winga - Ongame

- Goalwin.es, PokerLoco.es and PokerMambo.es - Ongame

- Betfair

- bet365?

- William Hill - Playtech?

- JAXX

- Poker Heaven

- Codere

- Egasa

- Telecinco

- Groupe Bernard Tapie/"FullTilt"

 

Other sources:

http://www.gaming-awards.com/NEWS/archives/10242

http://www.gamingintelligence.com/business/16270-sportingbet-and-jaxx-first-to-recieve-spanish-gaming-licence

http://pokerfuse.com/news/poker-room-news/groupe-bernard-tapie-applying-spanish-license/

http://www.igamingbusiness.com/content/spain-grants-first-igaming-licences

http://www.gambling911.com/poker/pokerstars-obtains-spain-gaming-license-060412.html

http://pokerfuse.com/news/law-and-regulation/bienvenido-spanish-poker-rooms-go-live/

http://www.gamingintelligence.com/business/16342-gtech-g2-launches-spanish-poker-network ;

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Sportingbet Q3 Profit Drops On Turkish Sale, David Altaner, GamblingCompliance

London-listed Sportingbet’s third-quarter earnings before interest, tax, depreciation and amortisation dropped by a third as the company sold its profitable Turkish operations and had operations suspended in Spain.

 

Sportingbet's Australian business accounts for over 90 percent of our profits.

 

Greek net gaming revenue dropped 19 percent and Spain dropped 14 percent, before operations there were suspended on March 27.

 

About 52 percent of revenue came from regulated territories.

 

Overall, EBITDA fell to £10.8m from a year earlier at £16.1m.

 

Other sources:

http://www.egrmagazine.com/news/sportingbet_saved_by_australian_profits

http://www.igamingbusiness.com/content/australian-results-help-sportingbet

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Online Poker in Spain: Who's In? Pokerfuse

Online Poker in Spain: Who's In? Pokerfuse | Poker & eGaming News | Scoop.it

Since December, we have seen various operators bowing out (notably Bodog, Unibet and other Microgaming skins). A last minute surprise—a demand from the Spanish tax man to pay four year’s of back-taxes—has raised questions as to which poker rooms will be getting licenses in a few days’ time.

 

Still no official list has been published, but given recent statements from various operators we have a good idea of who has their fingers crossed for a license.

 

PartyPoker: €31m in back-taxes paid.

Ongame: Betfair paid ~€10m, poker license application “shortly.”

888poker: €8.7m paid.

PokerStars

iPoker: Bet365, William Hill and Paddy Power

Microgaming: Ladbrokes and StanJames.

Boss Media/GTECH G2: Sportingbet has €17.2m paid—but sportsbook only?

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CIRSA profits from casino and slots growth in Q1, Gaming Intelligance

Spanish gaming operator CIRSA has reported a 6 per cent increase in total net operating revenues to €329.8m (US$416.8m) for the first quarter of 2012, following growth in the company’s casino and slots businesses.

 

Q1 Revenues

Euros (€) Q1 2011 Q1 2012
Slots 112.3m 129.1m
Casinos 119.6m 130.9m
Bingo 62.5m 58.2m
B2B 32.7m 27.5m

TOTAL 311.5m 329.8m

 

Q1 Results

Euros (€) Q1 2011 Q1 2012
Net Operating Revenues 311.5m 329.8m
Consumptions 24.3m 21.0m
Personnel 55.8m 57.1m
Gaming Taxes 99.1m 111.5m
External Supplies & Services 62.7m 62.9m
EBIT 39.2m 42.9m
Net Profit/(Loss) (15.1m) 6.6m

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Last minute tax surprise, iGaming Post

Last minute tax surprise, iGaming Post | Poker & eGaming News | Scoop.it

Weeks before online gambling licenses are to be handed out June 1, Spanish authorities have sprung a potentially game-changing surprise. They are demanding that applicants pay backdated tax for the last four years.

 

Bwin.Party, Euro 60 million

Sportingbet/Miapuesta, Euro 50 million

PokerStars, Euro 200 million

 

Some operators could find the demands too heavy and withdraw their applications for licenses.

 

Other sources:

http://www.igamingbusiness.com/content/spanish-tax-agreement-bwinparty

http://pokerfuse.com/news/law-and-regulation/sportingbet-confirms-spanish-tax-settlement/

http://www.egrmagazine.com/news/breaking_operators_rush_to_meet_spain_tax_demands

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Success in LatAm offsets Codere’s Spanish decline, Robin Harrisson EGR Magazine

Success in LatAm offsets Codere’s Spanish decline, Robin Harrisson EGR Magazine | Poker & eGaming News | Scoop.it

Spanish operator Codere has seen its operating revenue rise significantly year-on-year in the three months ending 31 March 2012 after strong performance from its Latin American operations, but increased operating expenses and a decline in the group’s Spanish business, ahead of the issuing of licences on 1 June, has hit the company’s pre-tax profit.

 

Profit before tax fell 16% year-on-year, from €17.5m to €14.7m for the period, after operating expenses rose 36.5% to €363.2m. This came alongside a drop in Spanish revenues, which fell from €43.6m to 39.4m – down 9.6% on 2011.

 

The company has issued a series of injunctions against international operators looking to launch in the regulated Spanish market on the basis that such companies, including PokerStars and Sportingbet’s Spanish-facing Miapuesta brand, had an unfair advantage after offering egaming services pre-regulation without having to pay tax on their activities.

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Spain opens licensed egaming June 1

It is now official that Spain is opening the market for regulated egaming on June 1 2012.

 

Other articles:

http://pokerfuse.com/news/law-and-regulation/next-big-step-regulated-online-poker-spain-will-go-live-june-1/

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