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Industry news about online real-money gambling
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No Online Poker in Latest Round of Licenses in Schleswig-Holstein, Nick Jones Pokerfuse

No Online Poker in Latest Round of Licenses in Schleswig-Holstein, Nick Jones Pokerfuse | Poker & eGaming News | Scoop.it

Five more licenses to operate online sports betting in the German state of Schleswig-Holstein were issued on Tuesday, with recipients Ladbrokes and 888 among the new additions.

The Home Office will continue processing applications, with now over 40 operators under consideration, including 22 for “online casino games” including poker, according to yesterday’s statement.

 

However, the latest batch were all sports-betting licenses, bringing the total number of licenses issued to date to 12. Along with 888 and Ladbrokes, Cashpoint Malta Ltd and Admiral Sportwetten (recipient of two licenses) join the likes of Betfair, JAXX, Bet365 and bwin.party. All licenses are good for six years.

 

Other sources:

http://www.igamingbusiness.com/content/schleswig-holstein-issues-five-more-licences

http://www.g3newswire.com/germany-confusion-reigns-schleswig-holstein-internet-casinos/

http://gamingzion.com/gamblingnews/schleswig-holstein-issues-more-online-gambling-licenses-2904

http://www.gamblingcompliance.com/node/49869

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William Hill and Ladbrokes pull plug on German market, Daniel Macadam, GamblingCompliance

William Hill, the UK’s largest bookmaker, confirmed last week it had pulled out of the German sports betting market, joining rivals such as Asian powerhouse 188Bet.

 

Operators have to grapple with a 5 percent turnover tax on betting, one of the highest in Europe, after Germany’s Bundestag approved the rate in June. There are also strict controls on advertising, customer spending and in-play betting, an increasingly integral product for online bookmakers, under the new Interstate Treaty on Gambling passed by 15 of Germany’s 16 regions.

 

One operator that cannot afford to pull out of the market is Bwin.Party, the world’s largest publicly listed online gambling company. Analysts have predicted a dent of up to €50m in Bwin.Party earnings from the new German regulations, and co-chief executive Norbert Teufelberger admitted at WGES there was “a long road ahead”. Still, Teufelberger insisted they could make money under the new laws.

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15% tax on online gambling gain support in the UK, Jocelyn Wood at Pokerfuse

15% tax on online gambling gain support in the UK, Jocelyn Wood at Pokerfuse | Poker & eGaming News | Scoop.it

The Bill’s supporters want to replace the existing tax system which imposes a 15% tax on companies licensed in the UK with a 15% tax on the income generated by UK players no matter where the gaming company is regulated.

 

Currently the UK permits operators regulated in other countries to offer poker and online gambling to UK citizens. A “whitelist” of regulated companies is maintained and companies on the list are allowed to service the UK market without being subject to the 15% tax.

 

Matthew Hancock argues that UK companies like Ladbrokes are gaming the system to avoid tax by setting up offshore regulated subsidiaries. He puts a figure of £300m on the lost income to the country as the result of this loophole.

 

In the current climate of financial crisis, a number of entirely legal tax efficiency arrangements have been branded “immoral” by the Prime Minister, Mr David Cameron. There is considerable political pressure to make companies and individuals pay their “fair share” of tax. By latching on to this argument Mr Hancock has tapped into a broad base of cross party support for his proposals.

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German betting tax would cost bwin.party 50 MEUR, David Altaner GamblingCompliance

German betting tax would cost bwin.party 50 MEUR, David Altaner GamblingCompliance | Poker & eGaming News | Scoop.it

Germany’s parliament is poised to pass a draft online sports betting bill today or tomorrow that would tax turnover and which could cost Bwin.Party Digital Entertainment €50m (£40m). The proposed bill, cleared by the Bundestag’s Finance Committee yesterday, would set a country-wide tax rate of 5 percent on sports bets and a limit of 20 licences.

 

The tax, which would take effect on July 1, would have a “material impact" on both Bwin.Party and the UK’s Betfair. UK bookmaker William Hill could lose less than 1.5 percent of earnings, and the bill would have a negligible effect on rivals Paddy Power and Ladbrokes.

 

http://www.gamblingcompliance.com/node/49460

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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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Sales from Lads Chinese JV down 35%, Tom Victor EGR Magazine

Sales from Lads Chinese JV down 35%, Tom Victor EGR Magazine | Poker & eGaming News | Scoop.it

Ladbrokes’ AGT joint venture in China hit a rocky patch, with the virtual sports game ‘Lucky Racing’ generating CHY260m (£25.5m) in sales in the first quarter of 2012 - down 35% quarter-on-quarter.

 

The product has been rolled out in 1,700 lottery shops in the country’s Hunan province, more than 1,400 of which are fully operational.

 

Q1 Results

Hong Kong Dollar ($) Q1 2011 Q1 2012

Revenues 19.5m 42.3m
Cost of Sales & Services 5.0m 17.2m
Gross Profit 14.5m 25.2m
Selling & Administrative Expenses 16.8m 25.3m
Profit/(Loss) from Business Operations (2.4m) 0.7m
Profit/(Loss) for the Period (14.7m) (11.0m)
Earnings/(Loss) Per Share (0.307) (0.360)

 

Other sources:

http://www.gamingintelligence.com/premium-news-and-archive/16020-agtech-revenues-soar-in-first-quarter

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The Growth of Online Gambling, PokerSites

The Growth of Online Gambling, PokerSites | Poker & eGaming News | Scoop.it

The Growth of Online Gambling Infographic - Examining the huge growth of online gambling and poker in the UK and United States of America.

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UK Online Market Tops £1.71bn - £242m in taxes, Scott Longley, GamblingCompliance

UK Online Market Tops £1.71bn - £242m in taxes, Scott Longley, GamblingCompliance | Poker & eGaming News | Scoop.it

The UK government can expect to generate up to £242m in revenues from the introduction of its planned point of consumption (POC) tax, according to the results of a new report from GamblingData.


In detailing the UK online gambling market to be worth £1.71bn in net gaming revenue (NGR), GamblingData suggests that between 5.25-7.25 percent of the market would end up avoiding the tax at the proposed 15 percent rate.

 

Other sources:

http://www.gamblingcompliance.com/node/49599

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Ladbrokes Share Price Plummets 12 % due to profit decline, Aaron Goldstein at Gambling911

Ladbrokes Share Price Plummets 12 % due to profit decline, Aaron Goldstein at Gambling911 | Poker & eGaming News | Scoop.it

Ladbrokes, one of the UK’s largest bookmakers, saw its shares fall almost 12 per cent after issuing a profit warning due to declining revenues in its online business.

 

The bookies said consensus full-year earnings before interest and tax (ebit) profits were expected to be £205m – £10m lower than analysts’ previous projections.

Weak margins in online sports betting and technological problems meant lower-than-expected online revenues, the company said.

 

Ladbrokes said first-half earnings from its digital business were expected to be about £15.5m, or half the amount in the first half of 2011 – only up 6 per cent on the previous year.

 

Other sources:

http://www.gamblingcompliance.com/node/49461

http://www.gambling911.com/gambling-news/not-best-week-ladbrokes-profit-warning-has-investors-heads-spinning-062912.html

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Betfair will lose big on UK online gambling tax, GamblingCompliance

Betfair will lose big on UK online gambling tax, GamblingCompliance | Poker & eGaming News | Scoop.it

Online betting exchange Betfair came out worst with an estimated 48 percent dent to earnings per share (EPS) in 2015 thanks to its heavy reliance on the UK, according to the Jefferies report.

 

Bricks-and-mortar bookmakers are likely to fare much better, the analysts said. Paddy Power, William Hill and Ladbrokes can expect a 19 percent, 13 percent and 12 percent hit to EPS respectively.

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Netherlands moves towards Danish regulatory model, Gaming Intelligence

Plans to introduce a licensing regime for online gaming operators in the Netherlands are slowly taking shape, with the Danish system appearing the more likely model to follow after the Justice Ministry concedes that the Belgian model could prove vulnerable under EU law.

 

In September 2011, Boston Consulting Group issued a report at the request of Teeven, outlining two possible scenarios for a regulated market. The first follows the Belgian model of issuing a limited number of licenses to land-based gaming operators who would also offer games online, while the second follows the more open model employed in Denmark and the German state of Schleswig-Holstein.

 

“In the first place, a restriction on the number of operators is unnecessary from the point of view of consumer protection and prevention of gambling addiction,” states Teeven. “By imposing strict requirements, at least the same level of protection can be attained. The location of servers in our country is also not necessary in order to facilitate strict monitoring.”

 

Operators no longer offering their sites in Dutch include bwin.party, Betfair, Bet365 and Ladbrokes, while many more continue to offer gaming in Dutch.

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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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