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Betting is to become VAT-free

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New rules will bring gambling in line with lotto and lotteries

 

Gambling on the outcome of an event, including sports, will be exempt from Value Added Tax (VAT) from January, as will the services of bookmakers and betting exchanges.

A notice published in the Government Gazette last week shows that as from January 1, the placing of bets and wagers, including the services of bookmakers, betting exchanges and “equivalent facilities” will be exempt without credit for VAT purposes.

Events on which betting and placing of wagers will be exempt include sporting events, both real life and virtual, competitions, lotteries, performance of an index and a natural phenomenon.

Gambling on the outcome of casino-type tables games, such as blackjack, poker and roulette, and any game of chance where they outcome is determined by a random generator will not be exempt from the tax. Similarly, any gambling with the use of remote gaming equipment will not be exempt.

At present, government lotto and lotteries are exempt from the tax.

The exemption from VAT of gambling is outlined in the Value Added Tax Act, the notice shows and it is also an implementation of a Council of Europe directive on the common system of VAT.

According to this directive, EU States may exempt from VAT “betting, lotteries and other forms of gambling subject to the conditions and limitations laid down by each Member State”.

Questions by this newspaper to the Finance Ministry on how this would work and how much revenue the exemption would cost the country were not answered by the time of writing.

Last year, Malta’s VAT revenue was just over €0.7 billion, which translates to 7.3 per cent of the country’s Gross Domestic Product.

 

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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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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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