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New EU Taxes Regulation Threatens Malta Online Gambling Field

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The development of the gambling industry in Malta is closely monitored by international gambling regulators and it was recently announced that the European Union is planning to introduce a new and more strict tax regime for digital companies in an attempt to provide more reliable regulation to the field. This decision has the potential to change the landscape of the country which provides good conditions for the development of many gambling operators.

As it is known, Malta is famous for its low taxes and this is one of the main reasons why gambling businesses have always been interested in locating their operation there. This is one of the locations in Europe which has on offer a wide variety of gambling offerings across a relatively small physical territory. Maintaining the taxes rates on the lower side has been a common practice on the Mediterranean island, but this beneficial regulation could soon be changed. It was reported by Politico, that there is a new digital taxation scheme on the way, which is going to cover the European Union in its entirety.

According to the discussed regulation, all digital companies would be taxed on their turnover or profits and the amount of taxes they pay in Europe will be inspected. This is a decision which is going to affect giants in the field, to the likings of Apple, Facebook, and Google, but it is also going to have its impact on the online gambling entities which are currently proliferating across the island of Malta and other small countries across Europe. It is a known fact, that online gambling makes for as much as an eighth of the economy of the island and any hit on it could prove to have negative consequences to the gambling field. The European Commission is considered to issue the proposal in the spring of 2018.

Potential Impact on Malta’s Economy

Because of its high dependency on corporate tax revenues, Malta is expected to be seriously affected by any changes related to international taxation regulations, as confirmed in a statement coming from the International Monetary Fund. The leading supporters of the change are France and Germany and the Organization for Economic Cooperation and Development demands that the companies pay more on their local sales. The proposal was strongly rejected by Luxembourg and Ireland as well, and this is a way to postpone the final decision since it has to be taken unanimously among all EU members.

Markus Ferber, Vice Chair of the European Parliament’s Economic and Monetary Affairs Committee, stated that money laundering and tax evasion have been an issue in Malta for quite some time now and the government should prove that it is working towards improving the way the industry works. It could be recalled that Malta was among the pioneers in creating clear regulation for the gambling sector after it became a member of the EU back in 2004.

This resulted in bigger interest towards it and at the moment gambling operators pay some 5 percent corporate tax. In order to maintain its position as a place where online businesses thrive, the authorities have begun a campaign which aims to convince the EU that Malta has a law-abiding online gaming industry.

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.

Armenia

Armenian parliament adopts bill on gambling in the first reading

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The Armenia National Assembly voted overwhelmingly to adopt the draft law on making amendments in the law on combating terrorism in the first reading at today’s sitting.

 

The parliament fully adopted the draft law on making amendments and supplements in the law on the “RA Investigative Committee” and the attached package of draft laws in the second reading with a vote of 85 for and 7 against.

The issue of adopting the draft law on making addendum to the Criminal Code initiated by MPs Karen Avagyan and Hrayr Tovmasyan in the second reading was also put up to voting.

The bill passed overwhelmingly the parliament’s second reading. In a speech ahead of the voting, Tsarukyan faction MP Naira Zohrabyan voiced the faction’s intention to support the bill in the second reading since the proposals submitted by the bloc over the measure had been accepted.

The Armenian parliament also overwhelmingly voted to adopt the draft law on making amendments and supplements in the law on energy and the attached bill package in the first reading.

The draft law on making amendments and supplements in the law on “Games of Chance, Online Games of Chance and Casinos” and the attached package passed the parliament’s first reading, receiving a total of 93 votes in favour.

The National Assembly also fully adopted the law on the Constitutional Court and the attached draft package in the second reading with 87 votes for and 7 against.

 

Source: panorama.am

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EEG iGaming Directory

Play’n Go launches Mystery Joker 6000

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Omni-channel slots specialist Play’n Go has reinvigorated the much-loved fruit slot in its latest title Mystery Joker 6000.

 

The three-wheel, five-payline game delivers the same classical symbols known to slots fans, with the introduction of the Joker symbol which triggers free spins and big wins on finding it.

When players land a Joker on a payline that runs across reels one and two, the third will re-spin while the rest are held, and if a third Joker is found, the innovative mystery wheel feature is triggered, potentially paying out up to 6000 times the current coin value.

Mystery Joker 6000 allows players to transfer winnings from the main game into the super meter mode, where bets cost double but wins even bigger, and with the mystery wheel even easier to find.

Landing three jokers randomly across the reels in the base game will pay out randomly up to 6000 times the coin value, with three on the one payline automatically awarding the full 6000 times to the player.

Significantly, super meter mode offers an RTP of over 100%, hugely attractive to players looking for consistent wins, and unique for what appears to be a traditional fruit slot.

Johan Törnqvist, chief executive officer of Play’n Go, said: “The traditional fruit slot has been a mainstay of the casino space for decades with players loving its simplicity and regular payouts.

We’ve decided to add the Play’n Go creative touch to the classic and reinvigorate the genre for today’s player, and we’re sure they’ll enjoy Mystery Joker 6000’s much-improved gameplay.

The Super Meter mode will offer players constant choice between big wins or potentially even greater ones should they feel lucky, particularly as the Mystery Wheel will come into play when finding just two Jokers.

Mystery Joker 6000 marks Play’n Go’s final release of an award-winning year, which has seen it launch 60 new titles across various genres. It’s set to build on this in 2018, with a product roadmap in place that will see even more innovative and enjoyable slot releases.

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Asia

Hard Rock details Maldives plan

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The casino operator announced its plans to expand its portfolio in the Maldives.

 

Hard Rock International revealed yesterday its plans to expand its portfolio with Hard Rock Hotel Maldives and Hard Rock Cafe Maldives. The operator is set to participate in what will be the first integrated resort in the Maldives.

The facility that will be located within one of the Maldives’ largest lagoons, Emboodhoo Falhu, is expected to debut in October 2018. The first phase of the development includes a US$311 million investment that expected to boost tourism, and offer new services like hotels, entertainment and retails. Hard Rock Hotel Maldives is set to be part of the three resorts included in the project, and will include 178 guest rooms, family suites and beach villas.

Todd Hricko, senior vice president, head of global hotel development for Hard Rock, said: “Known for its vibrant culture, top-of-the-line luxury and some of the most breathtaking white-sand beaches in the world, Maldives is truly a slice of paradise and one of the world’s most desirable destinations. Traditionally regarded as being a popular honeymoon destination, we at Hard Rock are excited to work with the Singha Estate team to captivate multi-generational travelers, showcasing that the destination can cater to more than just newlyweds.

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