Despite the fact regulated gambling markets haven’t yet launched in Argentina, the government has already planned a dramatic tax hike.

Though the city and province of Buenos Aires are in the process of rolling out regulating online gambling, the rest of the country still lacks any kind of framework. But, that didn’t stop Minister of Finance Martín Guzmán, pushing for online gambling tax to be more than doubled from 2% to 5% in the draft budget. 

Guzmán’s proposal is for 95% of revenue generated by online gambling tax will be shared out among the country’s provinces, with the remaining 5% invested in Arsat, the state-owned telecoms company. 

As things stand, the Argentine online gambling sector is believed to generate around $2.4B USD in annual revenue (according to Política Online), but because it is still almost entirely unregulated, it generates virtually no tax. 

The original online gambling tax was passed into law in 2016, and includes a higher tax rate of 10% for offshore gambling companies – though this is obviously unworkable. However, the authorities are promising to get tough for 2021, claiming they will be able to track online bets through mobile phone SIM cards or IP addresses, and bank and billing data. 

Staying with Argentine online gaming, in September, authorities in Buenos Aires amended the proposed online gambling framework, opening licenses to local land-based operators. Original plans had excluded them in order to “avoid monopolistic practices,” and attracted more experienced international operators. 

AYO.NEWS says:

More than doubling the tax rate before you’ve even launched your regulated online gambling markets probably isn’t the best way of attracting investment! 

It just goes to show two things are the same in almost every country right now, 1) the gambling industry is seen as a cash cow, 2) politicians are desperate to raise tax revenues because of the economic crisis of their own making. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020.

The Philippines Amusement and Gaming Corp (PAGCOR) has confirmed it is considering allowing casinos to offer online gambling domestically. 

Though many online gambling operators are based in the Philippines, they are not permitted to offer services to Philippine residents. However, PAGCOR says it has received several requests from casino operators to allow locals to gamble online, in order to mitigate the financial impact of the ongoing COVID-19 crisis. 

Local land-based casinos were ordered to close in March, and were not permitted to re-open until the end of August, but are only allowed to operate at 30% capacity and are subject to numerous other restrictions. Now, the Philippines, like other countries globally, is battling a resurgence of COVID-19 recently, and tourist numbers have plummeted, meaning operators are struggling to stay afloat. 

The regulator says its various departments are currently studying the viability of the proposals, and it is already in the process of evaluating the legalisation of streaming sabong (cockfighting) events in authorised arenas. 

Sources close to PAGCOR say that if anything is going to change it will likely happen soon. However, it is thought that the country’s president, Rodrigo Duterte, is opposed to an expansion of gambling in the country, and may block any attempts to allow casinos to offer online gambling to Philippine residents. 

AYO.NEWS says:

Will Duterte block any move to legalise online gambling for Philippine residents, or will the growing economic crisis override his moral objection to online gambling? Though Duterte isn’t exactly known for softening his stance or changing his mind, we have seen politicians in other countries change their mind on gambling for the sake of tax revenues and jobs. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020.

Kindred Group has reached an agreement to acquire Rank Group’s Belgian subsidiary, Casino Blankenberge. 

Kindred is set to purchase 100% of shares in Casino Blankenberge’s Belgian operator, Blankenberge Casino-Kursaal (Blancas) NV, for £25M GBP (approx. €27.64M), on a cash and debt free basis. 

The two parties have a long relationship, with Kindred working with Blancas since 2012 to offer online casino and poker to Belgian customers through its Unibet brand. 

Belgium’s “A+ license,” that allows an operator to offer online casino and poker to Belgian customers, is only available to licensed land-based casino operators – and the acquisition will give Kindred access to one of the country’s nine land-based casino licenses. 

UK-based Rank Group acquired Blancas in 1998, and in the 12 months up to June 2020, the subsidiary generated €10M in revenue, and an operating profit of €3M. Blancas NV recently renewed its concession agreement with the city of Blankenberge for another 15 years. 

In a statement, Kindred said:

“The acquisition will solidify Kindred’s long-term operations and commitments in Belgium and will allow Kindred to continue to offer an attractive broad offering to Belgian customers.”

While Rank Group CEO, John O’Reilly, added:

“Today’s announcement of the sale of the Blankenberge casino secures the next chapter for a great venue in Belgium and a team that deliver an excellent customer experience to the local community.

“As a standalone casino, the business was non-core to Rank’s international growth plans and the £25m sale proceeds supports the Group’s liquidity and future growth initiatives.”

Subject to regulatory approval, the acquisition is expected to be complete before the end of the year, and will see the company operate as a separate entity within the Kindred Group. The current management team, led by Dominique De Wilde, is expected to remain in place. 

AYO.NEWS says:

Given the impact the worsening COVID-19 crisis is having on land-based gambling, this move may seem surprising at first glance. But, as explained, Belgian authorities only grant A+ licenses, allowing online gaming, to licensed land-based operators, so there’s a logic in the move. Looking at the long-term, assuming things do ever get back to the ‘old normal’, it will also give Kindred a valuable land-based asset in a very convenient location. 

Staying with the Belgian gambling market, earlier this week 777.be revealed a new campaign featuring Jean-Claude Van Damme. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020.

Golden Nugget Online Gaming (GNOG) has reported net revenue of $25.9M USD for Q3 2020 – up a massive 92% year-on-year. 

The selected financial results, which cover the company’s New Jersey operations, reveal GNOG’s gross gaming revenue for the quarter rocketed 93% year-on-year, coming in at $28.9M, while operating income also surged 92% year-on-year, to $8.2M.

The company is now working to expand into new states, with its mobile sports betting and casino slated to launch in Michigan before the end of the year, subject to regulatory approval, and the process of securing a Pennsylvania license well underway. 

Reflecting on the results, owner of GNOG Tilman J. Fertitta, said:

“Our pandemic-proof business model keeps showing its resilience in New Jersey and we look forward to expanding operations in Michigan.”

While President of GNOG, Thomas Winter, added:

“Our third quarter confirmed and amplified our momentum in New Jersey, with record revenues supported by all-time-high player activity, sustained marketing investments and 64 new casino games, 20 of which we launched on an exclusive basis.”

In June 2020, GNOG entered a purchase agreement with special purpose acquisition company Landcadia Holdings II, in a process which, subject to regulatory approval from the Securities and Exchange Commission, should result in the operator going public on Nasdaq. 

AYO.NEWS says:

Though calling any business model “pandemic-proof” is perhaps tempting fate, GNOG’s performance in New Jersey is nothing if not impressive, and hints at future success in Michigan and Pennsylvania. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020.

B2B gaming supplier, Push Gaming, has announced a content partnership with UK operator Gamesys Group plc. 

The agreement will see Push Gaming’s entire suite of titles, including Joker Troupe, Jammin’ Jars and its latest release, Mystery Museum, integrated into Gamesys’ network via the supplier’s UKGC-licensed platform, and made available to players at casinos including JackpotJoy, Monopoly, and Virgin. 

Commenting on the partnership Head of Sales at Push Gaming, Fiona Hickey, said:

“Partnering with companies that share our values is of the upmost importance to us, and Gamesys’ reputation for delivering high quality entertainment makes its brands the perfect home for our cutting-edge games portfolio.

“Our slots are designed to entertain players, and striking deals with top-tier partners, such as Gamesys, is testament to our ever-increasing popularity with players from all around the globe.”

While Commercial Relationship Manager at Gamesys Group plc, Christel Marioni, added:

“Offering the ultimate gaming experience to our customers is what has kept us in the vanguard of the UK gambling industry, and we’re thrilled to be joining forces with Push Gaming.

“With a such a diverse and innovative slots portfolio, we know our customers will be delighted with the latest addition to our top-tier offering.”

Since being founded in 2010, Malta-based Push Gaming has grown to be a popular developer, and its games are now live across the majority of tier one operators in the UK, including GVC, The Rank Group, and William Hill. 

Staying with Push Gaming, just last week the company announced a partnership with Malta-based iGaming platform and aggregator, Ichiban, significantly extending its global reach. 

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The UK Gambling Commission (UKGC) has concluded its investigation into BGO Entertainment Limited, GAN PLC, and NetBet Enterprises Limited.

According to the UKGC, the three operators were investigated for failures in social responsibility and anti-money laundering procedures, which occurred between September 2018 and March 2020. 

In response to the failings, the UKGC has imposed stricter license conditions for BGO and GAN, and ordered all three to overhaul their policies and procedures to ensure they are fully compliant. 

All three operators will also be required to make payments to progress the world of the National Strategy to Reduce Gambling Harms. 

Furthermore, the commission will also be reviewing the actions taken by the individual Personal Management License holders. 

Commenting on the investigations, executive director of the UKGC, Richard Watson, said:

“Licensees must protect consumers from harm and treat them fairly.

“Our recent investigations uncovered a variety of consumer protection and anti-money laundering failings at each of these three operators and as a result we are using a range of enforcement tools against them. 

“We will continue to crack down on failing operators through our tough and proactive compliance and enforcement work.”

AYO.NEWS says:

While the operators involved are probably breathing a sigh of relief that the sanctions weren’t harsher, these investigations once again underline just what a minefield the UK market has become for operators. 

Illustrating this, last week Stockholm-based operator Betsson announced it was immediately withdrawing eight of its nine brands from the UK, and handing back three of its four UK licenses, citing the unsustainable investments needed to remain compliant in the jurisdiction’s constantly changing regulatory environment. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020.