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Spain provides tax cuts for online gambling

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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

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George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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SKS365 keeps investing in people: GROW People Management Program took the next level

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11 experienced people managers from the SKS365 group’s 4 locations gathered last week in Belgrade for the new GROW People Management Program. From 15 th to 19 th of April, through trainings, discussions, and social connections, people had the opportunity to further grow individually and as a team, while enjoying Belgrade’s city center and rivers.

Created in 2023 with the purpose of building foundation people management skills across the organization, GROW initiative evolved this year by including a new, advanced program for experienced people managers to further consolidate their skills and prepare for future opportunities.

Building and fostering connections, sharing experiences, and enjoying team building experiences – all these activities have been part of the GROWpmp agenda for the 11 people managers coming from Commercial, Product and Development, Finance, and Sportsbook departments of the group’s 4 locations – Malta, Italy, Austria, Serbia.

GROWpmp included a variety of topics that people managers in SKS365 recognized as the key areas for management development. Topics such as influence through communication, team effectiveness, DEI, through to presentation skills and business topics like understanding finance and management reporting, were delivered with the support of external professionals and internal experts, while designed and organized by the SKS365 People & Culture team.

 

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North Star Network acquires Um Dois Esportes

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North Star Network are delighted to announce the acquisition of umdoisesportes.com.br, which becomes the latest addition to NSN’s global sports media portfolio.

Born from the GRPCOM merger of the editorial teams of Gazeta Do Povo and Tribuna do Paraná in 2020, Um Dois Esportes provides in-depth sports coverage and analysis for the Brazilian state of Paraná and beyond.

North Star Network co-founder Julien Josset said: “Thank you to the team at GRPCOM for their faith in us to take the brand forward. Um Dois Esportes is an established and renowned site in Paraná State, and we’re excited about the challenge of developing this asset.”

“We’re happy to maintain the collaboration with the existing editorial team, and look forward to working with them, bringing our unique NSN approach, to take UDE forward.” NSN’s signing of Um Dois Esportes is the media house’s fourth acquisition of 2024, following the recent deals to purchase UK-based SportsMole and MrFixitsTips, as well as Chilean site AlAireLibre, which was announced in March.

The latest addition to the North Star media portfolio joins existing assets including Top Mercato, Afrik-Foot, and Vringe. The Paris-based company already oversees a significant Brazilian operation, delivering over 6 million sessions per month, from the likes of Trivela, Premier League Brasil and Lakers Brasil.

NSN will retain Curitiba-based journalists from the Um Dois Esportes legacy team to maintain the asset’s unique tone and popular coverage of the Paraná sports scene across site and social.

“We were surprised by the interest, and initially had no intention of selling Um Dois, but as the conversations evolved, we realised this was a serious group with good intentions,” said GRPCOM Director Rafael Mello. “We were very happy to see our project being valued by a large international group and going global, demonstrating the quality of the content we produced.”

“We’re also proud that North Star inherited our journalists, who are truly responsible for the success of the product we offer readers every day.”

 

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BNXT League and PepperMill Casino join forces

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BNXT League , the professional men’s basketball league played across the Netherlands and Belgium, and PepperMill Casino, the online casino licensed in Belgium, are pleased to announce their partnership centered around the BNXT League’s Belgian Play Offs.

PepperMill Casino will be a naming partner of the Belgian play offs. For the 24-25 season, PepperMill remains a partner of the BNXT League until the restrictions on gambling advertising take legal effect on January 1, 2025.

The partnership between BNXT League and PepperMill Casino aims to create engaging and customized content that engages and captivates fans on multiple fronts while increasing brand awareness.

“The basketball community is growing and buzzing with excitement and energy,” stated Anthony Rus, General Director of PepperMill Casino. “This partnership allows us to create memorable moments that build brand awareness and capture the hearts of fans.”

Wim Van de Keere, general manager of the BNXT League, adds, “The playoffs are undoubtedly the sporting highlight of the season. We are delighted to still be able to tie a dynamic partner like PepperMill Casino to us despite the restrictions coming up from 2025.”

 

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