Connect with us
Atlaslive is a robust, scalable, and reliable igaming platform that supports the growth of our partners’ business by ensuring 99.9 percent uptime, one of the best in the industry.

Latest News

Wallonia is Game – Belgium Incentivizes Video Game Studios from Around the World with Tax Shelter

Published

on

Reading Time: 2 minutes

 

The European Commission has given the green light for a tax shelter for Belgium’s gaming industry, the Commission said, opening the door for new success stories in the industry as investors obtain tax exemptions through a virtually risk-free investment; whilst the Belgian state gains from increased economic activity and spend.

Wallonia, the southern region of Belgium, is already a hotbed for gaming companies thanks to an excellent ecosystem of dynamic game development studios such as Fishing Cactus, Appeal, Wild Bishop and Abrakam that are driving the sector forward and a large talent pool whose quality is recognized internationally.

Intro

The tax shelter in the AV industry has met with uninterrupted success to the tune of over 200m EUR/year since its introduction in 2003, valued at nearly 2.4bn EUR so far. The volume of audiovisual (AV) productions filmed in Belgium has more than doubled, while since 2017 the mechanism has been extended to include the ‘performing arts’. From 2023 onwards, the tax shelter has now been expanded to include the gaming industry.

How Does it Work?

The Belgian tax shelter is a government-approved tax incentive designed to encourage the production of gaming productions in Belgium. The system is open to Belgian productions as well as international co-productions with Belgium that meet certain criteria.

“All three parties benefit from this arrangement; the producer is offered a very attractive way to finance projects, the investor obtains tax exemption through a virtually risk-free investment and the Belgian state gains from increased economic activity and spend,” Jean Greban, Coordinator of the regional Wallonia Gaming Association (WalGA) said.

Based upon the amount of qualifying investment costs the production will spend in Europe and upon the amount of direct and indirect Belgium-eligible expenses, the Ministry of Finance can provide tax shelter certificates to investors. The investor must make its full payment within three months of signing the framework agreement. Through the system, the investor pre-finances the production and/or post-production costs in return for tax benefits and a possible fixed return on investment.

What’s the Advantage for the Producer?

The tax shelter allows to finance up to 33.7% gross (27.2 % net) of the eligible production budget of the total qualifying expenses in the EEA. All expenditure in the European Economic Area (EEA) for goods and services related to video games is eligible for the tax shelter. This includes all European Union countries as well as Norway, Liechtenstein and Iceland.

Success to date shows that the expansion of the tax shelter is a huge opportunity for gaming studios and their investors, Michela Ritondo at the Fiscal Department for Foreign Investments of the Federal Finance Ministry said: “From 2003 until 2022, more than 2,000 audiovisual works financed through the tax shelter for a total of more than € 2.4 billion in tax shelter Investments. We encourage gaming studios and their investors to check in with us and get traction fast here.”

More Information

Federal Finance Ministry
Fiscal Department for Foreign Investments
Michela Ritondo
Boulevard du Roi Albert II, 33 (North Galaxy)
BE – 1030 Brussels
Phone: +32 (0)257 938 69
E-Mail: Michela.Ritondo @Minfin.fed.be
Website: www .fin.belgium .be

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.

Continue Reading
Advertisement


MARE BALTICUM Gaming & TECH Summit 2024
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Latest News

Key Market Entry at a floor price of $4.5 Million, Casino.jp is on the Market Amid Japan’s iGaming Expansion.

Published

on

Reading Time: 2 minutes

 

In an unprecedented move within the iGaming and domain sectors, the sought-after domain name Casino.jp is now open for acquisition for the first time. With a starting price of $4.5 million USD, this domain represents a rare entry point into Japan’s burgeoning gambling market, facilitated by an enterprise-oriented domain brokerage, Domainer.com.

Japan, with its complex gambling laws, is on the brink of a gaming revolution, highlighted by the 2023 approval of the $8.1 Billion casino-centred integrated resort in Osaka. Set to open in 2029, it is a collaboration between MGM Resorts and Orix, as reported by Reuters. This venture is rekindling interest among major operators and investors, eager to explore the untapped Japanese market.

The Catalyst Behind the Buzz

Why should the iGaming and domain communities take notice? For starters, the anticipated opening of the Osaka Resort in 2029 is set to shake up the Asian gambling landscape, currently dominated by Macau. With Macau generating over $22.7 billion USD in 2023 alone, the new resort poses a formidable challenge, promising to divert significant revenue streams with its projected annual earnings of $3.5 billion USD, almost half of that reported by Las Vegas entirely in 2023.

Domain Names: The Gateway to Industry Dominance

The value of premium gambling domain names cannot be overstated, having commanded staggering sums in the past. Icons like Slots.com and Casino.com were sold, in 2010 and 2003 respectively, for as much as $5.5 million USD each, underscoring the critical role of a powerful domain in establishing market presence. “Choosing the right domain is the first step in making a bold market entry,” states Ian Garner Chief Domain Officer of Domainer.com, emphasizing the importance of domains in branding and market visibility. Domainer.com’s recent $15 million USD brokerage of a deal for NFTS.com further illustrates the high stakes involved in domain trading.

Navigating Japan’s Gambling Regulations

While Japan’s gambling laws are currently restrictive, the government is progressively legalizing new forms of betting, including sports-related activities like horse races, boat races, and indoor cycling. However, the online gambling scene remains tightly controlled, with the anticipated legalization in some sectors sparking a significant potential for growth. As regulations evolve, early investment in a domain like Casino.jp could position an entity advantageously, ready to capitalize as the market opens further.

In Conclusion:

Casino.jp is more than a domain—it’s a key to unlocking Japan’s lucrative, yet tightly regulated gambling industry. This is a strategic call to entities poised to establish a foothold in a market on the cusp of substantial regulatory changes. Interested parties are encouraged to contact Ian Garner through Casino.jp’s contact page or directly via Domainer.com to explore this unparalleled investment opportunity.

 

The post Key Market Entry at a floor price of $4.5 Million, Casino.jp is on the Market Amid Japan’s iGaming Expansion. appeared first on European Gaming Industry News.

Continue Reading

Latest News

BGaming donates to Brazilian art institute in support of creative children’s projects

Published

on

Reading Time: 2 minutes

 

Popular iGaming content provider BGaming has bolstered its ongoing commitment to grassroots arts by making donations to the A7MA Galeria Institute in Sao Paulo, Brazil, which supports children’s creative development.

As part of its ‘When Art Meets Gaming’ project, BGaming has collaborated with several local artists to create murals for industry events over the last year. For SiGMA Americas in April, the studio also chose to give back to the host city by funding art projects for children.

BGaming made a donation to support three charity initiatives. A portion was donated to coordinate a visit to the A7MA Gallery, where children from the Felicidarte Project took a tour of popular tourist attraction ‘Batman’s Alley’ and learnt about the art. Later, A7MA funded an activity where children were invited to transform the facades of their homes into colourful murals.

Another part of the donation was allocated to renovations for Felicidarte Project’s warehouse space, to revamp the area so it can invite school groups each week and distribute food to the underprivileged areas.

The significant charitable push follows a successful SiGMA Americas in Sao Paulo from 23rd to 26th April, where BGaming collaborated with artistic duo, Clandestinos Art, to reinterpret BGaming’s iconic game heroes, and create a limited edition merchandise collection, branded gifts and their stand design.

Marina Ostrovtsova, CEO at BGaming, said: “At BGaming, it brings us so much joy to see our donations promoting art among the young people of Sao Paulo.

“As we have proven over the past year with our ‘Art Meets Gaming’ project, creativity unites us all and we were delighted to hear how much the children enjoyed the activities provided. We can’t wait to hear about these budding artist’s creations in the future.”

Marcos Ramos Enivo, Artist and Counsellor at A7MA Galeria Institute, said: “We are grateful to BGaming for their support of our work at A7MA. The activities exceeded our expectations, with 47 artists present and 46 facades revitalised by the children.

“It was an absolute success. People in the favelas who are sometimes invisible to the government can now feel seen, recognised and valued.”

 

BGaming is a fast-growing iGaming content provider converting gambling into gaming. Thanks to an expert team and a player-driven approach, the studio creates innovative and engaging products featured on reputable platforms and 1,100+ online casinos worldwide. BGaming is the world’s first to support cryptocurrencies and offer Provably Fair games. Today the brand’s portfolio includes 150+ products with HD graphics and a clear user interface for every device. The studio is also known for its brand exclusives created in partnerships with leading operators in the industry.

The post BGaming donates to Brazilian art institute in support of creative children’s projects appeared first on European Gaming Industry News.

Continue Reading

Latest News

Global Esports onboards sports psychologist Dr. Michelle Pain to its BGMI Team

Published

on

Reading Time: 2 minutes

Global Esports, a leader in South Asia’s gaming scene, proudly welcomes Dr. Michelle Pain as the official Sports Psychologist for their newly formed BGMI team (Battlegrounds Mobile India). Dr. Michelle is geared up to facilitate the mental training sessions for the GE players as they embark on the highly-anticipated new BGMI season, the ‘BGIS 2024’ (Battlegrounds Mobile India Series 2024). Her role is centred on cultivating a positive mindset among Esports players, helping them navigate the challenges of competitive gaming while leveraging sports psychology principles. The BGMI lineup includes experienced IGL – Harmandeep “Mavi” along with young talents like Tanjot “Ninjaboi” Singh, Raghuraj “Slug” Singh, Harshit “Beast” Yadav and Akshit “Arclyn” Kumar.

A seasoned private practitioner in sports psychology working in traditional sports, her tenure as a tertiary lecturer at Monash University, Victoria University, and Deakin University adds invaluable experience to her illustrious career. Dr. Pain is also known for her pioneering work in developing innovative and accessible resources tailored for athletes and coaches, such as the acclaimed Pocket Psychology series. She has also authored an eBook ‘Sport Psychology Tools for Every Coach and Athlete’ that encapsulates her wealth of practical insights and knowledge. She also conducts educational workshops in sports psychology, catering to coaches at all levels and empowering them with effective strategies to optimize athlete performance.

Dr. Rushindra Sinha, CEO and Founder, Global Esports, said, “Dr. Michelle Pain’s innovative approach to addressing players’ psychological needs aligns perfectly with our vision to continuously innovate and empower our athletes and grow as professional players. Her invaluable guidance and rich experience will equip our players with the focus, resilience, and emotional balance needed to become the best version of themselves as they embark on this BGIS journey.”

With an extensive career spanning over three decades, Dr. Michelle brings unmatched expertise in empowering elite athletes and coaches across diverse sports organisations to optimize mental resilience and achieve peak performance levels. She aims to assist players in coping with stress, mind fitness training, making sound decisions under pressure, improving communication, and regulating emotions to elevate their overall performance on the global stage. Her appointment underscores Global Esports’ commitment to nurturing excellence and maximizing potential within the Esports community.

The post Global Esports onboards sports psychologist Dr. Michelle Pain to its BGMI Team appeared first on European Gaming Industry News.

Continue Reading

Trending

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.