Latest News
Spain provides tax cuts for online gambling
Spain has reduced tax rates for online gambling operators in the country. The gambling industry, quite predictably, has hailed the move and termed it as an “absolutely fantastic” news.
The tax cut was announced in the recently presented 771-page annual budget. The budget has several tax reductions for online gambling operators, most importantly a 5 per cent reduction in gross gaming revenue, slashing the tax rate from 25 to 20 per cent.
The tax cuts will fuel profits and subsequent growth in the country’s booming online gambling sector. The Dirección General de Ordenación del Juego (DGOJ), Spain’s gambling regulator, recently reported a 27 per cent year-on-year increase in online gambling revenue for the first quarter of 2018.
Santiago Asensi, managing partner of Spanish gaming law firm Asensi Abogados, told iGamingBusiness.com that the new tax regulations will be “good news for everyone”, including the government coffers, which he believes will benefit from a hike in the tax take.
“Operators will be able to make better offers to the players who will not go to illegal markets,” he said. “The latest figures from the DGOJ show that all areas of online gambling are expanding, particularly with sports betting and online casino games, so I believe that these new measures will also lead to more tax being collected.”
Although the DGOJ has been lobbying the Spanish government for many years to reduce tax rates for online operators, Asensi acknowledged that it would have been “politically very difficult” to introduce such changes at a time of severe austerity across the broader economy, which endured a savage downturn during the global financial crisis.
However, with the economy having expanded by 3.1 per cent in 2017, driven by a significant increase in exports, Spain’s Ministry of Finance has found the right time to bring in the changes, buried in a lengthy document alongside hundreds of other budget decisions.
“The DGOJ has been working very hard to reduce the rate for years, but if a party had announced plans to reduce taxes for online gambling companies while asking for sacrifices from the general population, it wouldn’t have got many votes,” Asensi added.
“However, now the Spanish economy has recovered, it is the right time.”
The five per cent cut will apply to online fixed-odds betting and sports betting, fixed-odds horse racing, betting exchanges and online casino games, bingo and poker.
Companies located in the tiny Spanish enclaves of Ceuta and Melilla on the northern shores of Morocco’s Mediterranean coast will continue to be taxed at 10 per cent of online gross gaming revenues.
The tax rate on pari-mutuel sports betting gross gaming revenue was also cut from 22 to 20per cent, bringing the rate in line with state-owned betting services.
However, the tax rate for pari-mutuel horse racing and pari-mutuel pool betting gross gaming revenues has been increased from 15 to 20 per cent.
The changes were effective from July 1 and have been widely welcomed by companies with interests in the Spanish market who have long argued that the tax rates for online operators have been prohibitive. It emerged in April that Spain’s Congress of Deputies, the lower house of the national government, were looking at slashing tax rates for gambling operators.
Source: iGamingBusiness
Source: Latest News on European Gaming Media Network
Latest News
Week 46/2024 slot games releases
Here are this weeks latest slots releases compiled by European Gaming
Spinomenal has welcomed another title into its Wildlife Series, Majestic Bison. Set in the Wild West, Majestic Bison surrounds players in a landscape populated with wild wolves, elegant eagles, fearsome snakes and formidable goats. A stripped back soundtrack captures the essence of the Wild West, with banjos and harmonicas immersing players in the action as they hunt for gold.
PG Soft, a world-class digital mobile games company, is celebrating the magic of the Rio de Janeiro Carnival with the release of its new slot, Rio Fantasia. A young dancer named Isabella is the star of the show as players join in the rhythm and passion of one of the world’s most spectacular parties. Rio Fantasia is a 3-reel, 3-row video slot featuring Stacked Wild symbols, multipliers, and respin until win.
Hölle Games has released Jumpin’ Jacks, a new Classic title featuring a special Duplicating Wilds mechanic. This 5×3, 15 payline slot has a theme of Halloween harvest, with scarecrows, pumpkins, corn, crows and a creepy midnight sky completing the picture. The atmosphere is there to match, with a cosy yet somewhat spooky soundtrack.
Belatra Games, the specialist online slots developer, has served up Cafe Pin-Up, a slot that whisks players away to a vibrant 1950s diner, where retro glamour meets thrilling gameplay. Players take a seat inside a charming cafe, where pin-up girls are on hand to deliver delicious dishes in a raucous atmosphere created by a jukebox playing toe-tapping tunes. The game is presented in a 5×4 grid with 20 paylines with the Pin-Up Girl Wild symbol playing the key role.
New from Peter & Sons comes Muddy Waters, a game that will send your Geiger counter up to 11. This high-volatility and highly radioactive slot comes packed with symbol multipliers, power-ups and a unique fishing mechanic. Muddy Waters riffs on the popular fishing-slot genre, but since this is the weird and wonderful world of Peter & Sons, it gets flipped on its head, because this game is about reeling in radioactive fish.
Relax Gaming, the iGaming aggregator and provider of unique content, is getting players into the festive spirit with its latest release, Money Sleigh, a Christmas-themed slot guaranteed to deliver stocking-filled fun and the chance to unwrap big wins. Santa and his team of loyal helpers are ready to guide players through this exciting holiday adventure, with the potential to win up to 10,000x their stake.
The post Week 46/2024 slot games releases appeared first on European Gaming Industry News.
Latest News
AGREEMENT BETWEEN ZITRO AND GRUPO OSGA TO PROMOTE THE LABOT INTEGRATION OF PEOPLE WITH DISABILITIES
Zitro, a leading company in the gaming industry, has signed a collaboration agreement with Grupo OSGA, a business group committed to promoting the employment of people with disabilities. Grupo OSGA offers job opportunities to people with disabilities and supports their professional development in inclusive and accessible environments.
Through this alliance, Grupo OSGA will provide Zitro with a parcel and documentation service between its offices, optimizing Zitro’s operational efficiency and strengthening its social commitment to creating a more inclusive work environment.
At Zitro, we firmly believe in the power of diversity as a driver of growth and development. This collaboration with Grupo OSGA not only enriches our company but also reinforces our commitment to contributing to a fairer and more inclusive society,” said Albert Zorrilla, Managing Director of Zitro for Spain.
“The collaboration with a prestigious international company like Zitro not only constitutes recognition of the work that Grupo OSGA has been carrying out but also contributes to the generation of real opportunities for people with disabilities to achieve effective and stable integration in the labor market,” said Oscar Galilea, President of Grupo Osga.
The post AGREEMENT BETWEEN ZITRO AND GRUPO OSGA TO PROMOTE THE LABOT INTEGRATION OF PEOPLE WITH DISABILITIES appeared first on European Gaming Industry News.
Latest News
EGT Digital’s iGaming platform X-Nave and successful titles to deliver high-quality experience to BetHub’s customers
BetHub and EGT Digital have started their successful partnership, as a result of which the leading Bulgarian operator is now using the iGaming platform X-Nave. Its 4 main modules: CRM Engine, Sport product, Gaming Aggregator and Payment Gateway, enable the betting site to effectively manage all online gaming business verticals and further improve its performance.
CRM Engine provides a wide range of player management tools and bonus features, allowing the operator to create more personalized offerings for its customers, based on their preferences and behavior.
Through X-Nave’s Sport product BetHub will enrich even more the sport content it offers.
The Payment Gateway gives access to numerous payment methods and thanks to the Gaming Aggregator EGT Digital’s slot games are already at the disposal of the website’s visitors. The top-performing titles from Bell Link, Clover Chance, High Cash, Single Progressive Jackpot, as well as the multiplayer game xRide quickly gained popularity among BetHub’s customers.
“We are very glad with our collaboration with EGT Digital so far,” commented Kiril Naldzhiev, CEO at BetHub. “The platform has made the management of our business much easier, and the company’s gaming content has shown impressive results that have not only met but exceeded our expectations.”
Tsvetomira Drumeva, Head of Sales at EGT Digital, also gave a positive evaluation to the cooperation. She said: “Partnering with a prominent operator like BetHub is very valuable for us, as it gives us the opportunity to demonstrate the enormous potential of our developments and consolidate our status as a leader in the local market. I am confident that this is the beginning of a very successful collaboration that will bring a lot of positives to both companies and the players themselves.”
The post EGT Digital’s iGaming platform X-Nave and successful titles to deliver high-quality experience to BetHub’s customers appeared first on European Gaming Industry News.
-
Latest News2 months ago
BlueOcean Gaming Wins Best Aggregator 2024 Award at SiGMA East Europe Awards
-
Latest News2 months ago
BOS/The Swedish Trade Association for Online Gambling commissions Advisense to strengthen efforts against money laundering
-
Latest News2 months ago
EGT’s bestseller Bell Link with another great success: Its bells are now ringing in the Czech market
-
Latest News1 month ago
MIRACL partners with Continent 8 to offer its single-step passwordless MFA solution to simplify the login experience
-
Latest News2 months ago
Applications invited to become safer gambling charity for 2025 editions of ICE, iGB Affiliate and iGB L!VE
-
Latest News1 month ago
ACR Poker’s OSS XL Exceeds Guarantee With Over $46 Million In Prize Pools
-
Latest News1 month ago
Match of LeGGends: Double Down. Highlights of the show match between NAVI and Team Vitality
-
Latest News1 month ago
FBMDS and FBM Foundation host solidarity keepy-uppy initiative at G2E Las Vegas 2024
You must be logged in to post a comment Login