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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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Belgium blacklist expanded, iGaming Post

Belgium blacklist expanded, iGaming Post | Poker & eGaming News | Scoop.it

The Belgium Gaming Commission has expanded its blacklist of companies. The list include:

www.myglobalgames.com

www.bingo-round.com

www.everestpoker.be

www.titanpoker.be

www.jackpotcity.com

www.888.com

www.casino.com

www.chilipoker.com

www.casinoriva.com

www.megacasino.com

www.winamax.fr

www.pokerhuis.com

www.flanderspoker.be

www.prodigypoker.com

www.europacasino.com

www.riverbingo.com

www.platinumplaycasino.com

www.goldenpalace.com

www.oranjecasino.com

www.amsterdamscasino.com

www.bwin.com

www.bettsson.com

www.bet-at-home.com

www.betclic.com

www.expekt.com

www.williamhill.com

www.stanjames.com

www.betfair.com

www.188bet.com

www.betway.com

 

Licensed operators, class A:

www.partouche.be

www.pokerstars.be

www.casino777.be

www.win2day.be

 

Licensed operators, class B:

www.goldenpalace.be

www.soniconline.be

www.magicwins.be

www.circus.be

www.atomik-gaming.be

www.palladiumgames.be

www.carousel.be

www.magicdice.be

www.36win.be

www.napoleongames.be

www.casinobelgium.be

www.onlinegames.be

www.fortuna2000.be

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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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NTT Docomo buys Winga owner for £187m, Tom Victor EGR Magazine

NTT Docomo buys Winga owner for £187m, Tom Victor EGR Magazine | Poker & eGaming News | Scoop.it

Tokyo-listed mobile carrier NTT Docomo has issued a tender offer of ¥24bn (£187m) to acquire all shares of Winga.it owner Buongiorno.

 

Buongiorno is one of more than 60 companies to have applied for a licence to operate in the Spanish market, and could find out whether or not it has been successful as soon as 1 June following a recent announcement from the country’s egaming regulator.

 

Winga is using poker platform from Ongame and the casino platform from Playtech in both Italy and France.

 

The Winga.fr site launched in January 2011, while this year saw the company extend its French-facing offering to include poker.

 

As well as offering egaming under the Winga brand, mobile specialist Buongiorno offers music via the play.me brand and mobile payment services via cashlog.com.

 

According to TechCrunch, Buongiorno currently employs 848 people and in its last full-year results reported €228.6m in revenues and an operating profit of €7 million. NTT Docomo’s fourth-quarter results earlier this month revealed revenues of ¥69.3bn (£539m) for the three months ended 31 March.

 

Other sources:

http://www.gamingintelligence.com/manda/16026-japans-docomo-to-acquire-winga-owner-buongiorno-

 

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Scientific Games returns to profit following revenue growth, Gaming Intelligence

Scientific Games Corporation has reported a 19 per cent increase in revenues to $234.6m for the first quarter of 2012, buoyed by strong growth from the company’s gaming business which benefited from the roll-out of terminals to Ladbrokes’ entire retail estate last year.

 

Q1 Revenues

US Dollars ($) Q1 2012 Up/(Down)
Printed Products 125.5m 9%
Lottery Systems 64.5m 14%
Gaming 44.6m 81%

TOTAL 234.6m 19%

 

Q1 Results

US Dollars ($) Q1 2011 Q1 2012
-Instant Tickets 113.9m 123.3m
-Services 73.7m 90.3m
-Sales 9.0m 21.0m
Total Revenues 196.7m 234.6m
Total Expenses 182.2m 212.3m
Operating Income 14.4m 22.3m
Net Income/(Loss) (6.9m) 1.8m
Earnings/(Loss) Per Share (0.08) 0.02

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US Casinos up 3%, Gambling Compliance

US Casinos up 3%, Gambling Compliance | Poker & eGaming News | Scoop.it

Commercial casinos across the U.S. generated a combined $35.6bn in gross revenues in 2011, up 3 percent on the previous year, according to the American Gaming Association.

 

The $35.6bn in revenues at casinos across 22 states was an increase on $34.6bn in 2010, but still below previous peaks of $37.5bn in 2007 and $36.2bn in 2008, the AGA said in its annual "State of the States" report, published yesterday.

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Online business helps Cherryforetagen results, Igaming Business

Online business helps Cherryforetagen results, Igaming Business | Poker & eGaming News | Scoop.it

Swedish online gaming firm Cherryforetagen AB has released its interim financial results for the first quarter of 2012 showing a massive 143 percent year-on-year increase in earnings before interest and tax to £811,740 (SEK9.0 million).

 

Stockholm-based Cherryforetagen operates the PlayCherry.com online gaming site alongside NorgesAutomaten.com, SverigeAutomaten.com and DanmarksAutomaten.com and declared that its first quarter earnings before interest, tax, depreciation and amortisation grew by 80 percent year-on-year to £1.07 million (SEK11.9 million) while overall turnover for the three-month period rose 22 percent when compared to the same period in 2011 to £10.74 million (SEK119.1 million).

 

Cherryforetagen announced that quarterly earnings improved across all of its business segments with its online business seeing a 65 percent year-on-year boost to £775,651 (SEK8.6 million) while its restaurant casino enterprises reported a 61 percent enlargement when compared to the first three months of 2011 to £261,617 (SEK2.9 million).

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Lottomatica profits soar in Q1 as revenue growth continues, Gaming Intelligence

Italy’s Lottomatica Group has reported an 11 per cent increase in revenues to a record €780.4m for the first quarter of 2012, following growth across all of the company’s business segments. Despite the difficult economic environment, total revenues from Italian operations increased by 5 per cent to €481.8m, with strong growth from the company’s machine gaming and interactive divisions offsetting lower revenues from lottery and sports betting.

 

Q1 Italian Operations

Euros (€) Q1 2011 Q1 2012
Lottery 221m 206m
Machine gaming 136m 169m
Sports betting 59m 48m
Commercial Services 29m 33m
Interactive 15m 26m

TOTAL 459.9m 481.8m

 

Q1 Revenues

Euros (€) Q1 2011 Q1 2012
Italian Operations 459.9m 481.8m
GTECH Lottery 189.5m 237.5m
SPIELO International 67.9m 69.2m
Subtotal 717.3m 788.5m
Eliminations/Other (15.2m) (8.2m)

TOTAL 702.1m 780.3m

 

Q1 Results

Euros (€) Q1 2011 Q1 2012
Revenues 702.1m 780.3m
Total Costs 549.4m 610.7m
Operating Income 152.7m 169.5m
Net Income 36.0m 71.5m
EPS 0.13 0.33

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European Football conceal Italy’s declining betting market, GamblingCompliance

European Football conceal Italy’s declining betting market, GamblingCompliance | Poker & eGaming News | Scoop.it

Italian participation in European football ties saw Italy’s licensed bookmakers receive a welcome boost in turnover, but the Euro boost did little to staunch an overall downward trend, with the figures for the first quarter still registering a substantial year-on-year fall.

 

Double European clashes between Napoli and Chelsea, Inter and Marseille, AC Milan and Arsenal as well as the first leg of the quarter finals between AC Milan and Barcelona saw the total value of stakes on sports betting reach €376m during March — some 7 percent up on the figures from a year before — according to official data published by the gaming watchdog AAMS. However, the more balanced first quarter figures were still down by more than 12 percent. Once again fat margins helped conceal the underlying decline in betting spend for operators.

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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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Positive start to 2012 for Cherry after online gaming growth

Shares in Sweden’s Cherryföretagen soared by more than 8 per cent this morning after the company reported a 22 per cent increase in revenues to SEK119.1m ($17.4m) for the first quarter of 2012, more than half of which was generated by the company’s growing online gaming business.

 

Revenues from online gaming increased by 38 per cent to SEK67.6m, with “stable” results generated from the company’s NorgesAutomaten, SverigeAutomaten and DanmarksAutomaten gaming sites. Online gaming now accounts for more than 56 per cent of the Cherry’s total revenues.

 

Q1 Revenues by Segment

Swedish Krona (SEK) Q1 2011 Q1 2012
Online Gaming 48.8m 67.6m
Restaurant Casino 29.0m 31.9m
Maritime Gaming 19.6m 19.6m

TOTAL 97.4m 119.1m

 

Q1 Results

Swedish Krona (SEK) Q1 2011 Q1 2012
Revenues 97.4m 119.1m
Operating Expenses 90.8m 107.2m
Operating Income 6.6m 11.9m
Operating Profit 3.7m 9.0m
Profit for Period 0.9m 3.1m

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Sports rebound offsets French poker decline, Tom Victor EGR Magazine

Sports rebound offsets French poker decline, Tom Victor EGR Magazine | Poker & eGaming News | Scoop.it

Despite a 26% increase in tournament entries, poker revenues dropped 3% compared to the corresponding period in 2011, with much of the decline coming from the 18-24 age demographic.

 

GGR from sports betting rose 7% year-on-year to €37m, its highest figure since Q3 2010, with the number of active players dropping slightly from 111,000 to 109,000. For horse betting the figure rose 20% to €69m.

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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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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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Rank to buy Gala Coral’s casinos, Tom Victor EGR Magazine

Rank to buy Gala Coral’s casinos, Tom Victor EGR Magazine | Poker & eGaming News | Scoop.it

Rank Group has reached a conditional agreement to acquire Gala Coral’s 23 land-based casinos for a sum of £205m, some £45m less than the figure first mooted when discussions between the parties began in January this year.

 

The agreement covers 23 venues across the United Kingdom, representing all of Gala’s land-based casinos with the exception of Dundee and Gibraltar, bringing Rank’s estate up to 58 properties. Nine of these venues will be rebranded under Rank’s ‘G Casino’ banner.

 

Other sources:

http://yogonet.com/english/2012/05/14/rank-buys-gala-casinos-for-us-329-3-million

http://www.gamingintelligence.com/manda/16010-rank-agrees-p205m-acquisition-of-gala-coral-casinos

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32Red wins trademark dispute, Tom Victor EGR Magazine

32Red wins trademark dispute, Tom Victor EGR Magazine | Poker & eGaming News | Scoop.it

The World Intellectual Property Organization (WIPO) has found in favour of 32Red in the egaming operator’s trademark dispute with California company Baysound LLC over the 32x.com domain.

 

In February last year 32Red won a High Court injunction against William Hill Online over the 32Vegas brand used by the latter, concluding a case which had run for two years.

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iGaming may benefit from Facebook’s latest popularity plan, iGaming Post

iGaming may benefit from Facebook’s latest popularity plan, iGaming Post | Poker & eGaming News | Scoop.it

If various Multi-National companies are able to pay to boost the popularity of their posts, then our newsfeeds could be saturated with the latest games on offer, as opposed to what your friend had for breakfast.

 

According to seekingalpha.com “Facebook’s IPO, slated for May 18, could provide a short-term catalyst for Zynga. Going forward, growth in the user base and online gaming could make this stock a solid long-term investment. If you look at the long-term trends Jim Cramer talks about in mobile, cloud, and social media strategies, Zynga is in a great position in all of these areas. Zynga accounts for 15% of Facebook’s revenue, yet Zynga is only worth about $6 billion with a little over $1 billion in cash. Facebook will likely be worth over $100 billion after its IPO.”

 

Furthermore, it looks as though Facebook is slowly letting its barriers down when it comes to online gambling businesses advertising. The company has since relaxed those rules – the Facebook Advertising Guidelines webpage has a specific online gambling clause under the Gambling and Lotteries subsection of the Ad Content section: “Ads that promote or facilitate online gambling, games of skill or lotteries, including online casino, sports books, bingo, or poker, are only allowed in specific countries with prior authorization from Facebook.”

 

The latest changes stem from Facebook users struggling to make their posts stand out. The Telegraph reports: “Facebook is set to go public on the stockmarket with an initial valuation of $96billion, and is likely to look over time at a range of other ways in which it can earn money.”

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US Lottery up 14%, Gambling Compliance

Total retail lottery sales for the quarter ended March 31 were $14bn, climbing 14.2 percent compared to the same period a year ago.

 

Instant ticket retail sales, $7.9bn, grew 13.4 percent, while online retail sales, $6.1bn, rose 15.3 percent.

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Schleswig-Holstein’s operator Jaxx goes German wide June 8, Gambling Compliance

Schleswig-Holstein’s operator Jaxx goes German wide June 8, Gambling Compliance | Poker & eGaming News | Scoop.it

Schleswig-Holstein online gambling licences, Germany’s first, dodge the question of whether they are able to be used in the other 15 German states.

 

Jaxx will use that ambiguity to start using its new licence as soon as possible. UK-listed Betfair is proceeding more cautiously, saying it has not yet determined its next move.

 

Jaxx, which is changing its name to mybet Holdings, will generate more than €1m in tax for Schleswig-Holstein in 2012 alone. Tax in the northernmost German state is 20 percent of gross gaming revenue.

 

Jaxx, based in Schleswig-Holstein, wants to debut its dot.de website in time for the June 8 opening of the Euro 2012 football tournament.

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Unibet reports successful first quarter, Igaming Business

Unibet reports successful first quarter, Igaming Business | Poker & eGaming News | Scoop.it

Malta-based online gambling operator Unibet Group has released its interim financial results for the first quarter of 2012 and revealed that gross winnings revenues for the three-month period increased by 36 percent year-on-year to £51.1 million.

 

Unibet completed the acquisition of rival Nordic Betting Limited earlier this month for £11.25 million while February saw it spend £13.6 million in order to purchase Australian independent online corporate bookmaker Betchoice Corporation Party Limited. It also shelled out £4.8 million in November to take control of French operator Solfive SAS, which is the firm behind the EurosportBet and EurosportPoker brands, and revealed that these expansions resulted in first quarter betting duty of three million pounds alongside merger and acquisition expenses of £800,000 in addition to amortisation of another £800,000.

 

However, earnings before interest, tax, depreciation and amortisation for the first quarter rose 16.7 percent year-on-year to £15.3 while profits from operations improved by 3.5 percent when compared with the same period in 2011 to £11.6 million.

 

Unibet reported a profit before tax for the first quarter of £11.7 million, which was an improvement of some 8.3 percent year-on-year, with this figure after duties swelling by eight percent when compared to the first three months of 2011 to £10.8 million.

 

Other sources:

http://pokerupdate.com/news/unibet-revenues-skyrocket/

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Sweden’s ruling parties unite to back gambling reforms, Gaming Intelligence

Sweden’s ruling parties unite to back gambling reforms, Gaming Intelligence | Poker & eGaming News | Scoop.it

All four of the centre-right coalition government’s political parties are now in agreement on the need for liberalisation of the monopolised market. Also the Swedish Labor party is in favor of a regulation.

 

The experience of Danish liberalisation has been influential with some of its neighbours’ key industry figures visiting the Swedish parliament over recent months to discuss their experience.

 

The Swedish national audit office is due to publish a report on the sector within the next few weeks.

 

Other articles:

http://bit.ly/di-spel

http://www.newsmill.se/amne/spelmonopolet-0

http://www.sweden.gov.se/sb/d/10283/a/117594

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Lottomatica interactive quadruple revenues, Tom Victor

Lottomatica interactive quadruple revenues, Tom Victor | Poker & eGaming News | Scoop.it

Lottomatica quadruple the online revenues from €117.4m to €589.9m year-on-year, "was primarily attributable to the launch of new games including Poker Cash games and Casino games, which commenced in the second half of 2011".

 

Online lottery sales also progressed well following December's Wire Act clarification in the United States, with Illinois – where subsidiary Northstar Lottery Group has started its operation.

 

Overall group revenues were up 11.1% compared to Q1 2011, coming in at €780.3m for the quarter. The biggest area of growth was GTECH lottery, where revenues were up 25.3% year-on-year to €237.5m.

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MGM Resorts International's CEO Discusses Q1 2012 Results, Seeking Alpha

MGM Resorts International's CEO Discusses Q1 2012 Results, Seeking Alpha | Poker & eGaming News | Scoop.it

EBITDA was $509 million for Q1 2012.

 

Our room trends continue to improve. That increase was despite having over 70,000 rooms out of service at the MGM Grand due to the current room remodel that's underway. And overall, we were still able to increase our occupied room nights by approximately 60,000 in the quarter, reflecting a gain in market share, as well as the continued strength in demand for our Las Vegas Strip resorts.

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Pokerstars in social media integration, Tom Victor

Pokerstars in social media integration, Tom Victor | Poker & eGaming News | Scoop.it

PokerStars has launched ‘PokerStars Boom!’, a tool which allows players to share their winning poker hands with friends via social networks.

 

Currently available in France and Italy, and soon to be rolled out globally by the operator, players can click a button within the PokerStars client to share video replays of hands on sites such as Facebook and Twitter.

 

There is also an option to upload videos to the Boomplayer mini-site, where players can vote or comment on content, or share via email or social media.

 

Other articles:

http://pokerupdate.com/news/networks-and-rooms/pokerstars-launch-innovative-social-media-hand-replayer/

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NJ Governor delays online poker to support Romney, Pokerfuse

NJ Governor delays online poker to support Romney, Pokerfuse | Poker & eGaming News | Scoop.it

“We were told … that the Atlantic City casinos have not made the case that Internet gaming is good for them,” Lesniak told Philly.com. It appears that the Governor—who was thought to have changed his stance in favor of internet gambling—is no longer convinced.

 

Lesniak speculated that the latest shift by Christie could be a result of the influence of billionaire casino owner and staunch online gambling opponent Sheldon Adelson. Christie is a strong supporter of US presidential candidate Mitt Romney—who is believed to be seeking the support of Adelson.

 

Other articles:

http://pokerfuse.com/news/law-and-regulation/nj-igaming-bill-include-international-player-pools/

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