Punch Taverns sales on the rise

first_img Shares in Britain’s biggest pubs group Punch Taverns jumped yesterday after it posted an increase in second-quarter sales and says it remains on track tomeet its full-year expectations. The owner of Chef & Brewer and Fayre & Square said its success has been triggered by its new look pubs. Like-for-like sales at its managed pub estate rose 8.6 per cent in the 12 weeks to 5 March.This compared with a 2.2 per cent rise in the previous quarter and came amid strong eating out demand after food sales rose 11.7 per cent on a like-for-like basis. The improvement followed a refurbishment at 15 per cent of its managed pubs. whatsapp KCS-content Show Comments ▼ Share Punch Taverns sales on the rise center_img whatsapp Tags: NULL More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comConnecticut man dies after crashing Harley into live bearnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Thursday 10 March 2011 7:25 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDrivepedia20 Of The Most Underrated Vintage CarsDrivepedialast_img read more

Japan counts cost of devastating tragedy

first_img Japan counts cost of devastating tragedy by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBrake For It40 Features In Cars No One Ever Knew: No.19 Is In Every CarBrake For ItItsTheVibeThe Cutest 1980’s Stars Are Now In Their 60s, This Is Them NowItsTheVibebonvoyaged.comTotal Jerks: These Stars Are Horrible People.bonvoyaged.comDefinitionTop 25 Reality TV Shows That Are Completely FakeDefinitionFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatteriCanAnswerThat.comThe New Volkswagen Atlas Is The Car Of Your Dreams.iCanAnswerThat.comTaco Relish20 Southern Phrases Northerners Don’t UnderstandTaco RelishFamilyThisThe Biggest Wrestlers From Back In The Day & How They Look NowFamilyThis KCS-content Show Comments ▼ More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Sunday 13 March 2011 11:18 pm Share whatsapp whatsapp ■ NIKKEI 225 FALLS 5.8 PER CENT IN EARLY TRADING■ BOJ PUMPS £53BN INTO MONEY MARKETS JAPANESE markets were hammered this morning as traders scrabbled to offload exposure to the devastating Japanese earthquake.The Nikkei was down a staggering 5.8 per cent in early trading to 9,656.71, with stocks in firms including Nissan, Honda, Sony and energy giant Tepco – the owner of one of Japan’s damaged nuclear plants – all untraded due to heavy sell orders. The market could fall further when the backlog of sell orders are processed throughout the day, traders said.The Bank of Japan (BoJ) this morning injected seven trillion yen (£53bn) into the economy via its market operations in an attempt to shield its fragile recovery and ensure there is no disruption to the banking system. It is thought the central bank has invested in assets ranging from government bonds to private debt.It will today announce an emergency “quake budget”, although its monetary options are limited by the fact interest rates are already at virtually zero. The yen touched a four-month high against the dollar, with traders selling off foreign assets to increase their stock of yen on the expectation of high demand from insurers and companies working on rebuilding the country’s infrastructure. Prime Minister Naoto Kan said he would take firm action against speculative currency trading.The cost to the insurance industry is likely to run into tens of billions, with the Japanese government taking the lion’s share of the hit due to a scheme providing state insurance to re-insurers for earthquakes.Toyota, the world’s biggest carmaker, and Nissan have both halted production in all of their Japanese plants. Sony has also suspended production at eight factories.The death toll yesterday was thought to be at least 10,000, with aid workers working into the night recovering more bodies. In the port of Minami Sanriku in Miyagi prefecture around 9,500 people were missing out of a population of 17,000.At least 590,000 were living in temporary shelters last night, with 210,000 evacuated from the area surrounding the Fukushima nuclear power station.Fears of a full-scale meltdown persist, despite an ongoing operation to pump seawater into troubled nuclear reactors to prevent them overheating.The UN said the situation is no longer a serious threat but Kan stressed the administration is still closely monitoring it.At least 1.4m people are without running water. Aid agencies are now worried waterborne diseases could quickly spread as the sea of sludge contaminates reservoirs. A further 2.6m people are without electricity and the government has introduced rolling blackouts in Tokyo and the surrounding areas in a bid to ration energy. Tags: NULLlast_img read more

Shell exec pay up as growth plan revealed

first_imgTuesday 15 March 2011 8:25 pm Tags: NULL Share KCS-content whatsapp More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org Show Comments ▼ OIL giant Shell laid out ambitious production growth goals yesterday, as it revealed bumper 2010 bonuses for its top executives. Shell said it aims to invest $100bn (£62.4bn) in new projects over the next four years, to help boost production by 12 per cent to 3.7m barrels of oil per day by 2014.The firm said it is scoping out more than 30 new projects with potential for more than 1m barrels per day each to try and keep up with surging demand for fuel. The firm said its asset disposals will continue this year, with up to $5bn of assets for sale.Chief executive Peter Voser made €5.5m (£4.75m) in cash, bonuses and benefits last year, up from €3.16m in 2009 when he took the top job. His €3.75m bonus was more than double that of 2009, when a shareholder rebellion forced a pay freeze.Head of upstream Malcolm Brinded saw his overall pay rise by a third to €5.05m. The firm’s “scorecard” for executive director bonuses showed that all targets apart from sustainable development, which counts towards 10 per cent of performance-related pay, were met in 2010. “Overall this update is as the market would have anticipated…2011 is a ‘transition year’ for Shell ahead of project delivery in 2012 and beyond, “ said BNP Paribas analysts in a note. Shell’s A-class shares lost 0.9 per cent in London trading yesterday. Shell exec pay up as growth plan revealed whatsapplast_img read more

Rajat Gupta steps down from Gates Foundation as Galleon case proceeds

first_img Show Comments ▼ Rajat Gupta steps down from Gates Foundation as Galleon case proceeds RAJAT Gupta, the former head of McKinsey, has stepped down from his role as a senior adviser to the Bill & Melinda Gates Foundation while he defends himself against insider trading charges related to Galleon Group head Raj Rajaratnam.Gupta has already resigned from the Indian Business School and other directorships including Procter & Gamble and American Airlines. The US Securities and Exchange Commission laid charges against him this month over links with Rajaratnam, and Gupta has denied any wrongdoing.US prosecutors say Rajaratnam, the founder of Galleon Group, illegally made $45m (£28m) from 2003 to 2009 in stock trades based on tips from insiders, including highly placed executives in the corporate US.Rajaratnam maintains his trades were based on his own research and publicly available information. The Gates Foundation said Gupta had taken the decision to step down last week.It stated: “Rajat has stepped down from his role on the Foundation’s Global Development advisory panel until these matters are resolved.”Gupta had chaired the panel, which is one of several at the foundation. It meets twice a year and was last convened in February. It was designed to draw in more senior outsiders, partly over criticism that the foundation was unaccountable beyond Mr Gates, his wife Melinda, and Warren Buffett, their co-trustee. Sunday 27 March 2011 11:22 pm Share KCS-content whatsapp whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Tags: NULLlast_img read more

Kuwait billionaire al-Kharafi dies

first_img Egypt Kuwait Holding’s stock tumbled 9.7 per cent yesterday after its chairman, Kuwaiti billionaire Nasser al-Kharafi, died while on a trip to Cairo. Kuwait’s state news agency KUNA said yesterday Kharafi had died after suffering a heart attack. An earlier report from Al Arabiya television said he died on Saturday. Share whatsapp Kuwait billionaire al-Kharafi dies KCS-content whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search Adsautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldcenter_img Show Comments ▼ Sunday 17 April 2011 10:15 pm More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comColin Kaepernick to publish book on abolishing the policethegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Tags: NULLlast_img read more

Wiggin EU regulation roundup – September 2018

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Card Rooms and Poker Online Gambling 4th September 2018 | By Joanne Christie In conjunction with Chris Elliott and Beth French of Wiggin LLP, iGaming Business provides a regulatory snapshot of igaming across the EU, including all regulated products, legalised operator types and market updates. Italy, the Netherlands and Slovakia are among those updated.AUSTRIA Regulated gambling products: Sports betting, horse race betting, poker, casino, bingo and lottery. Operator type: Licences for sports betting and horse race betting are available for private operators on a regional basis within Austria, whereas poker, casino, bingo and lottery are controlled by the monopoly, Casinos Austria, which has exclusive rights until 2027.Status: In 2016, national courts reached conflicting decisions on the compatibility of Austria’s current gambling legislative framework with EU law, which remains unclear. The draft amendments to the Gambling Act, which would introduce ISP-blocking measures and an express provision rendering gambling contracts contrary to the Gambling Act void, has been temporarily withdrawn. It is unclear at this stage whether the initial draft will be re-published.BELGIUM Regulated gambling products: Sports betting, horse race betting, poker, casino, bingo and lottery. Operator type: All products are available to private operators except for lotteries, which are reserved exclusively for the monopoly provider. However, online operators need to partner with local casinos in order to satisfy the land-based establishment requirement; alternatively, apply for one of the 34 retail licences (F1 licences) that can be extended to cover online (F1+ licence).Status: There remain valid arguments that the existing regime is incompatible with Belgium’s EU Treaty obligations. On 22 March, 2018, Belgium’s Constitutional Court ruled in favour of an exemption from VAT obligations for online gambling transactions. Active enforcement measures against operators and players are in place. Following a recent ruling by the Constitutional Court that the country’s licensing arrangements are unconstitutional, each type of gambling product will need to be offered through a different URL in order to harmonise the disparity between land-based and online licence conditions.BULGARIA Regulated gambling products: Sports betting, horse race betting, poker, casino, bingo and lottery (excluding raffles and instant lottery games). Operator type: All products are available to private operators except for lotteries, which are reserved exclusively for the monopoly provider.Status: Any operator from an EU/EEA jurisdiction or the Swiss Confederation can apply for a licence. The Bulgarian regulator has awarded approximately 20 licences to date, including to a number of international operators. The government has notified the European Commission of draft amendments to the country’s gambling legislation which, among other things, would introduce stringent restrictions on how gambling products can be advertised. The standstill period ends on 10 September, 2018.CROATIA Regulated gambling products: Sports betting, horse race betting, poker, casino, bingo and lottery. Operator type: All products are available to private operators except for lotteries, which are reserved exclusively for the monopoly provider. Private operators can only be licensed to offer igaming if they obtain a land-based casino or betting licence.Status: Following Croatia’s accession to the EU in 2013, it was understood that it would submit new legislation that was compatible with EU law. However, on 5 March, 2014, the Croatian government notified a draft bill to embolden the position of the monopoly and local operators, giving rise to further incompatibility issues. The receipt of a detailed opinion from the EC stalled the legislative process.CYPRUS Regulated gambling products: Sports betting, horse race betting and lottery. Operator type: OPAP has a monopoly over lottery operations; sports-betting licences are available to private operators.Status: Cyprus regulated online betting in July 2012, although a licensing regime was not established until 2016. Applications for online sports-betting licences were accepted for a one-month period only from 3 October, 2016. ISPs are obliged to implement blocking measures to prohibit Cypriot residents from accessing unlicensed gambling websites. Cyprus has notified new draft gambling legislation to the EC in response to concerns about the local establishment requirement under the Betting Law and the equal treatment of gambling operators in the country (principally as a result of the exemption afforded to OPAP).CZECH REPUBLIC Regulated gambling products: Sports betting, horse race betting, poker, casino, bingo and lottery. Operator type: EU and EEA-based operators are able to apply for licences.Status: The new gambling regulatory regime entered into force in the Czech Republic on 1 January 2017, allowing EU/EEA companies to enter the market. The licensing regime has been called into question after a number of foreign operators are believed to have withdrawn from the licensing process, citing the current regime as incompatible with EU law. ISP-blocking measures are active in the jurisdiction. DENMARK Regulated gambling products: Sports betting, fantasy sports, horse race betting, poker, casino, bingo and lottery. Operator type: Sports betting, poker and casino licences are available to private operators. Lottery is controlled by the state monopoly.Status: The Danish online gambling regime went live on 1 January, 2012. ISP-blocking measures are active in the jurisdiction and the Danish Gaming Authority has been granted an injunction to block operators and suppliers that have been targeting Danish customers without the requisite licence. Danish political parties have reached an agreement to introduce limits on bonuses. The Ministry of Taxation is understood to be aiming for a 1 January, 2019 implementation, although the exact proposed changes are currently unknown.ESTONIA Regulated gambling products: Sports betting, horse race betting, poker, casino, bingo and lottery. Operator type: Licences for all gambling products are available to private operators save for lotteries, which are reserved exclusively for the monopoly operator.Status: Operators seeking to accept business from players in Estonia must be issued an activity licence for the type of gambling they wish to offer, then an operating permit to provide the services remotely. A blacklist of about 1,100 operators is maintained and updated by local authorities and ISP and payment blocking is in force. Though some operators argue that the regime is still not compatible with EU law, there has been no open challenge by the EC to date.FINLAND Regulated gambling products: Sports betting, horse race betting, poker, casino, bingo and lottery. Operator type: All gambling products are under the exclusive control of the three monopoly providers, Raha-automaattiyhdistys (RAY), Fintoto Oy and Veikkaus Oy. The monopolies merged into one state entity on 1 January, 2017.Status: An ECJ ruling confirmed that Finland’s three monopoly providers are legally permitted, which was subsequently written into law. In November 2013, the EC also withdrew infringement proceedings. Active enforcement measures are in place (restrictive marketing for offshore operators and ISP blocking).FRANCE  Regulated gambling products: Sports betting, horse race betting, poker, bingo and lottery. Operator type: Private operators can obtain online licences for sports betting, horse race betting and poker. The monopoly has exclusive rights to bingo and lottery.Status: A regulated market since the introduction of a licensing regime in 2010, following which the EC withdrew its infringement proceedings. Parliament announced a full review of French gambling legislation in 2016, although little progress has been made to date except for changes to allow for international poker liquidity and provisions relating to the organisation of esports tournaments. The state-owned operator of France’s national lottery games, Française des Jeux (FDJ), is set to be privatised, with broader regulatory changes to the online sector expected to follow.GERMANY Regulated gambling products: Schleswig-Holstein, a small northern-German state, regulates sports betting, horse race betting, poker, casino and bingo. The other 15 states of Germany currently permit only sports betting and horse race betting. Operator type: Private operators can no longer obtain licences in Schleswig-Holstein and those in existence will expire on 30 June, 2019. In the other 15 states, horse race betting licences are available at a regional level but the position surrounding the 20 available sports-betting licences is still uncertain.Status: The licensing regime is in a state of flux. The tender for 20 federal sports-betting licences was aborted following a number of appeals by operators who were not granted licences. The ECJ ruled in 2016 that Germany’s sports-betting regulation was incompatible with EU law and that enforcement actions would be unlawful where none of the 20 licences could, in practice, be acquired. The decision led to calls for comprehensive legal reform of Germany’s gambling legislation. In March 2017, all 16 German states signed amendments to the country’s gambling law; however, on 22 September, 2017, Schleswig-Holstein’s state parliament voted against ratifying these, with North-Rhine Westphalia and Hesse since announcing their intention to follow suit. Without full state support, the intended changes did not take effect, further delaying reform. A Federal Administrative Court ruling on 26 October, 2017, upheld the ban on online casinos and poker. The ruling, which is now the subject of a constitutional complaint, appears to have led to action by local regulators seeking to enforce the prohibition of online casinos by issuing interdiction letters to operators. Payment-blocking initiatives are also being pursued.GREAT BRITAIN Regulated gambling products: Sports betting, horse race betting, poker, casino, bingo and lottery. Operator type: All licences are available to private operators save for lottery, which is reserved exclusively for the monopoly provider, Camelot.Status: Any operator that transacts with, or advertises to, British residents requires a licence from the Gambling Commission. Licensed operators are required to source gambling software from commission-licensed businesses. Since 1 August, 2017, the first use of free plays for remote gaming has been taxed and winnings brought into the duty calculation at the end of the rewagering process. The UK government has announced its intention to increase Remote Gaming Duty at the next budget to cover a shortfall in lost tax revenue resulting from a reduction in maximum stakes on fixed odds betting terminals from £100 to £2.GREECE Regulated gambling products: Sports betting, horse race betting and lottery. Operator type: All products are exclusively reserved for the monopoly providers, although 24 transitional licences for private operators remain active, with all products permitted.Status: The enabling regulations that implement a Greek online gambling licensing regime are yet to be implemented. In 2012, a ‘transition period’ commenced, whereby the Greek government granted 24 transitional licences to operators, enabling them to keep transacting with Greek residents. The fate of the 24 licences is still unclear, although the Hellenic Gaming Commission launched a consultation on the reform of the country’s online gambling regulation in late 2017. Any new licensing regime is not expected to be introduced before 2019, at the earliest. Tax authorities in Greece are currently investigating the 24 licensees for taxes owed on operations from 2010-11.HUNGARY Regulated gambling products: Sports betting, horse race betting, poker, casino, bingo and lottery. Operator type: Only the state monopolies (Szerencsejáték Zrt. and Magyar Lóversenyfogadást-SzervezőKft) and local concession companies can apply for a licence.Status: Amendments to Hungarian gambling law came into force on 1 October, 2015, and allow only two land-based casinos to hold remote casino concessions. The regulator has since issued fines, a number of which have been challenged, against unlicensed operators that continue to target the market. In June 2017, the ECJ determined Hungary’s gambling regime to be incompatible with Article 56 TFEU. A subsequent ECJ decision in February 2018 ruled against the Hungarian requirement that online gambling operators must have a land-based licence to offer online gambling services to Hungarian citizens, further strengthening arguments that the current regime is incompatible with EU law. The Hungarian Ministry of Justice has stated its intention to continue to seek to enforce the existing regime despite the most recent ruling. A draft bill that would introduce payment-blocking measures was notified to the EC on 15 December, 2017, although the bill does not appear to have been adopted to date.IRELAND Regulated gambling products: Online gaming is not specifically accounted for in Ireland’s outdated legislation and as such is currently unregulated. Operator type: Online betting regulated since August 2015.Status: Ireland is currently updating its legislation, which will create a comprehensive igaming regime. In January 2018, the Irish Cabinet gave the go-ahead to draft a new version of a bill that was first proposed in 2013. Ireland’s opposition party tabled its own legislation in response, citing a lack of progress by the government on its own bill. Amendments to the Gaming and Lotteries Act 1956 have also been proposed. Legislative progress is not expected until late 2018 at the earliest.ITALY Regulated gambling products: Sports betting, horse race betting, poker, casino, bingo and lottery. Operator type: Fully regulated market. Status: The Stability Law 2016, passed in December 2015, introduces various measures affecting the remote gambling industry, including tax changes and a tender process for the award of 120 new online gaming licences. The tender process for applications closed on 19 March, 2018. On 7 August, 2018, the Italian parliament approved a decree which prohibits gambling advertising and sponsorship. The advertising ban took effect on 14 July 2018, although ongoing advertising contracts remain valid until the earlier of their expiration date or 14 July 2019. The sponsorship ban will apply from 1 January 2019.LUXEMBOURG Regulated gambling products: Lottery. Operator type: Monopoly.Status: The general prohibition on gambling appears sufficiently wide to cover all forms of online gambling.MALTA Regulated gambling products: Sports betting, horse race betting, poker, casino, bingo and lottery. Operator type: Private operators can apply for a local licence (except for lottery products).Status: Malta has approved a new Gaming Act that replaces all existing gaming legislation with a single piece of legislation, supplemented by secondary legislation. The Gaming Act, together with directives and regulations, is effective as of 1 August, 2018.NETHERLANDS Regulated gambling products: Sports betting, horse race betting, poker, casino, bingo and lottery. Operator type: Monopoly for all products.Status: The Dutch parliament’s lower house approved the Online Gambling Bill in 2016, which will introduce an online gambling licensing regime. The legislation will impose a 29% GGR tax on both online and land-based operators. The bill requires approval from the Senate and licensing is not expected to commence until at least 2019. It is understood that operators that have previously been fined by the Dutch regulator will not be eligible for a licence. In the interim, the regulator continues to implement enforcement measures against operators targeting Dutch players and has announced that, as of 1 June, 2017, it would expand its approach to enforcement to pursue any operators that are “specifically and unequivocally” targeting the Dutch market. On 2 May, 2018, the Council of State Administrative Law Division ruled that the licence allocation process for the exclusive licences (under the current regime) for sports betting, lotto games and instant lottery is compatible with EU law.NORWAY Regulated gambling products: Sports betting, horse race betting and lottery. Operator type: Online gambling is reserved for the two monopoly providers, Norsk Tipping and Norsk Rikstoto.Status: The monopoly has extended its offering to include live betting, online bingo and casino games in an attempt to redirect traffic from unlicensed sites. In March 2017, the government published a long-awaited white paper on how best to regulate the gambling sector, which proposed that the gambling monopoly remain in place and no licensing system be introduced. The Norwegian regulator continues to step up enforcement efforts against unregulated operators, local banks and payment service providers. On 4 June, 2018, the Ministry of Culture notified a draft regulation to the European Commission that would establish payment-blocking measures. The standstill period will end on 5 September, 2018. The European Gaming and Betting Association is understood to have filed a legal challenge against the proposed measures.POLAND Regulated gambling products: Sports betting, horse race betting, casino and poker. Operator type: Betting licences are available for companies with a representative in Poland. Casino and poker are reserved for a state monopoly.Status: Legislation enacted 1 January, 2012, permits betting. Following the approval of various amendments to the Gambling Act, online gaming (including poker) is no longer prohibited as of 1 April, 2017, although the exclusive rights to offer such products are reserved for a state monopoly. Provisions that provide for the establishment of a blacklist of unlicensed operators and ISP and payment blocking came into force on 1 July, 2017. The blacklist contains more than 1,000 domain names. PORTUGAL Regulated gambling products: Sports betting, horse race betting, poker, casino, bingo and lottery. Operator type: Any EU/EEA operator can apply to be granted a licence for online gambling. Lottery games and land-based fixed-odds sports betting remain reserved for a monopoly.Status: A regulated market since 2015. Although operators can now apply for licences, their Portuguese revenue streams will be subject to comparatively high tax rates, particularly in sports betting, which is subject to an 8-16% tax on turnover. In 2015, the RGA filed a state-aid case with the EC challenging the Portuguese betting tax as breaking EU trade rules. On 30 January, 2018, the Portuguese gambling regulator published a call for contributions on the review of the current regulatory framework for online gambling.ROMANIA Regulated gambling products: Sports betting, horse race betting, casino, bingo and lottery. Operator type: Any operator from an EU/EEA jurisdiction or the Swiss Confederation can apply for a licence. Lottery games remain reserved for the monopoly.Status: The Romanian government passed legislation in 2014 that allows entities within the EU to apply for a licence, imposes a reform on licence fees and eliminates many (but not all) of the tax burdens placed on player revenues. The Gambling Law (as amended) introduced a legal framework for a fully regulated online gambling market and requires licences to be held by online gambling operators, as well as software providers, payment processors, affiliates and testing labs. After some delay, the secondary legislation that fully implemented the new licensing regime came into force on 26 February, 2016. The National Office for Gambling in Romania published a blacklist of unlicensed gambling operators in July 2015.SLOVAKIA  Regulated gambling products: Sports betting, horse race betting, poker, casino, bingo and lottery. Operator type: Monopoly, save that land-based sports-betting operators can offer services online owing to a legal loophole.Status: In November 2016, a bill amending the existing gambling legal framework was approved. The amendments, which entered into force on 1 January, 2017, included the introduction of ISP and payment blocking of illegal online gambling offerings in the Slovak territory. Slovakia’s Financial Directorate began to perform its supervisory function over these blocking measures from 1 July, 2017. New draft legislation has been notified to the EC with a view to liberalising the market in 2019. The proposed legislation, if passed, will allow private EU/EEA operators to apply for online gambling licences.SLOVENIA Regulated gambling products: Sports betting, horse race betting, poker, casino, bingo and lottery. Operator type: Online gambling must be operated by land-based casinos or lotteries and, as a result, only the monopoly holds online licences in Slovenia.Status: Draft amendments to the Gaming Act were published in 2015, which aim to remove the current local establishment requirement. The proposal is yet to be submitted to the Slovenian parliament, although it is expected to be adopted in 2018. Whether any amendments will introduce a formal licensing system remains unclear.SPAIN Regulated gambling products: Private operators can apply for licences for all gambling products save for lottery. Operator type: Private operators can apply for licences for all gambling products save for lottery.Status: First online licences were issued on 1 June, 2012. Operators must hold a general licence and a specific licence, both issued by the National Gambling Commission, for each activity. In June 2015, 10 new licences were awarded, the first since 2012. In addition, 25 online slot permits were issued to new and existing operators. This followed the approval of the regulation of slots and betting exchanges. The Spanish regulatory body DGOJ has formally opened its third call for tender, with applications for online licences accepted from operators for a period of one year, until 18 December, 2018. On 16 January, 2018, online poker liquidity sharing between Spain and France came into effect. The 2018 parliamentary budget was passed into law in June 2018, resulting in a reduction to gambling tax effective as of 1 July, 2018.SWEDEN Regulated gambling products: Sports betting, horse race betting, poker, bingo and lottery. Operator type: Only public-benefit organisations, the horse racing industry and the state lottery may obtain a licence. No licences are available for private operators, although this will change with the introduction of the new legal framework.Status: The Swedish parliament adopted a bill that will introduce an online-gambling licensing regime. The law is expected to enter into force on 1 January, 2019, with the licence application process open as of1 August, 2018.WIGGIN is a law firm dedicated to supporting the media, entertainment and gaming sectors. Its market-leading betting and gaming group provides specialist legal services to an array of gambling industry stakeholders. We advise many of the world’s leading gambling operators and suppliers and also enjoy helping entrepreneurial, interactive start-up businesses. If you’d like to hear more, contact us at [email protected] Wiggin EU regulation roundup – September 2018 Chris Elliott and Beth French of law firm Wiggin provide a regulatory snapshot of markets across the EU, with Italy, the Netherlands and Slovakia updated Regions: Europe Topics: Casino & games Legal & compliance Lottery Sports betting Bingo Poker Subscribe to the iGaming newsletter Bingo Email Addresslast_img read more

Germany ratifies Third State Treaty on Gambling

first_img Tags: Mobile Online Gambling Topics: Legal & compliance Sports betting The Minister-Presidents of Germany’s 16 federal states have ratified the third amended State Treaty on Gambling, paving the way for operators to apply for sports betting licences in the market, while Schleswig-Holstein will be allowed to run its own, liberal regulatory regime.At the Minister-Presidents’ Conference earlier today (March 21), the lawmakers agreed to sign the Treaty, with licences to come into force from January 1, 2020 and run until June 30, 2021. This will effectively act as a placeholder, with a view to a complete overhaul of Germany’s gambling regulations by 2021.The Treaty will also be submitted to the European Commission to be ratified, which is expected to take place in April this year, with a view to beginning the licensing process later in 2019.The third amended State Treaty has undergone few changes from the 2012 edition, though the controversial 20-licence limit has been removed. While there is no limit on the number of operators that can be licensed, licensees will be taxed on 5% of turnover, in-play betting is prohibited, and players will not be allowed to spend more than €1,000 (£868/$1,137) each month. As before, sports betting is the only vertical permitted.Schleswig-Holstein will be permitted to continue with its own liberal regulatory model until 2021. First introduced in 2011, the state has does not impose any restrictions on product verticals, and sets a 20% gross revenue tax. Steps towards renewing licences issued in 2012 began last week, with a view to having these run until June 30, 2021. The state will effectively act as a testing ground for a more liberal model, which from 2021 could be rolled out across the rest of the country.Dr Wulf Hambach of leading German law firm Hambach & Hambach suggested that due to the short-term nature of the amended Treaty, it would be difficult to enforce the prohibition on live betting.“There is also also big question over whether the online casino ban will be obeyed from January 1, 2020 onwards,” Hambach added. “If, for instance, other federal states are in favour of online casino regulation, they are unlikely to enforce the ban.”Hambach said that with varied stances on gambling regulation across a number of states, the 2021 overhaul could give states the choice to opt in or out of a more liberal framework.“I think it’s is likely that after 2021 you will see a fully regulated market, so this one step in the right direction, and there are already a lot of discussions between states, but I think these talks are very fruitful. If you look back two or three years, there haves never really been serious discussions about major reforms [to gambling regulation],” he continued. “This is the first time that it feels like a major step forward has been taken.”Hans-Jörn Arp, parliamentary leader of the Christian Democratic Union in Schleswig-Holstein and one of the State Treaty’s most vocal opponents, described today’s agreement as a “breakthrough”.“Today’s decision of the Minister President Conference to present the foundations for follow-up regulations to the State Treaty on Gambling, means we have finally achieved a breakthrough after ten years, and gained recognition from the other federal states,” Arp said.“For Schleswig-Holstein, this is a great success, after the state had long met with resistance to its  forward-looking solution in the field of gambling,” he said. “Now the other federal states are pulling in the same direction, after they were finally convinced that the Schleswig-Holstein model is expedient.”Arp said this had been aided by a cross-party consensus in the Schleswig-Holstein state parliament.He said the decision was not only good news for those who play online, who would be better protected when gambling, but also for professional sports clubs, which could be supported by additional investment generated through gambling taxes.However German operator association the Deutscher Sportwettenverband took a less positive approach, with president Mathias Dahms describing the Treaty’s ratification as an insufficient first step towards regulating the country’s sports betting market.“The third amendment to the State Treaty on Gaming is only a temporary measure for the short transitional period until 2021,” Dahms said. “It does not solve the structural deficits of the State Treaty, but gives the countries time to continue negotiating the urgently needed modernisation of German gambling law.”Dahms said that even as a short-term measure the restrictions imposed under the State Treaty would prompt bettors to flock to illegal sites.“In Germany there is a strong sports betting market,” he explained. “Customers have clear expectations of their sports betting product.“If states completely ignore social realities and customer demand, they run the risk of failing again with their regulation. Unattractive conditions threaten to marginalise the licensed offerings in Germany compared to the black market.”Dahms said that a thorough and transparent process to develop new regulations was vital, one that involved industry stakeholders, sports clubs, as well as medical professionals, noting that the last public hearing had taken place in May 2010.“Since then, the Treaty has only been developed behind closed doors,” he said. “We and many other associations are therefore offering states the opportunity to contribute our decades of expertise in a cooperative and constructive manner in order to develop successful German gambling regulations.”The German association of slot machine manufacturers Deutsche Automatenwirtschaft also urged states to use the time before the expiry of the Treaty in 2021 to develop new regulations.“The consensus that has been reached is a first step. However, the main goal, namely the much-needed, coherent regulation of all forms of gambling, is still pending,” Deutsche Automatenwirtschaft chief executive Georg Stecker said.Stecker said that only an attractive legal offering would succeed in drawing players away from a “rampant” black market.“Only when all forms of gambling, including commercial slot machines, are regulated according to quality standards, can the black market be contained, consumers sustainably protected and legal businesses strengthened.” The Minister-Presidents of Germany’s 16 federal states have ratified the third incarnation of the State Treaty on Gambling, paving the way for operators to apply for sports betting licences in the market, while Schleswig-Holstein will be allowed to run its own, liberal regulatory regime. The new Treaty will effectively act as a stopgap measure, with the states agreeing to completely overhaul regulations for 2021. Subscribe to the iGaming newsletter Legal & compliance AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Germany ratifies Third State Treaty on Gambling Regions: Europe Central and Eastern Europe Germany 21st March 2019 | By contenteditor Email Addresslast_img read more

Gambling.com Group targets US following Q1 revenue growth

first_img22nd May 2019 | By contenteditor Casino & games Regions: Europe UK & Ireland US Nordics Southern Europe Sweden Italy New Jersey Pennsylvania Email Address Gambling.com Group targets US following Q1 revenue growth Topics: Casino & games Finance Marketing & affiliates Sports betting Strategy DFS Tags: Fantasy Sports Mobile Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Gambling.com Group has reported a 52% year-on-year increase in revenue for the first quarter of 2019, with the affiliate marketing giant to invest in the development of products for the US market in the year ahead. Gambling.com Group has reported a 52% year-on-year increase in revenue for the first quarter of 2019, with the affiliate marketing giant to invest in the development of products for the US market in the year ahead.Total revenue for the three months to March 31, 2019 grew to a record €5.2m ($5.9m), with organic growth accounting for around 50% of this total, or 98% of the year-on-year increase.The vast majority (83%) of this sum came from locally regulated markets, Gambling.com Group noted, with new depositing customer (NDC) numbers up 66% to 26,525.This growth came despite the affiliate admitting that it had been hit by the introduction of new gambling regulations in Sweden, its second largest market after the UK, from January 1, 2019. Gambling.com said regulation had provided long-term legal certainty in the market, and NDC production remained strong in Q1.However, it noted, NDC values had decreased and Swedish revenue had fluctuated as its operator partners familiarised themselves with the new regulatory framework. Despite this, it said that it expects the market to stabilize and grow in coming quarters.Read the full story on iGB North America.last_img read more

Caveman Bob by Relax Gaming

first_img Companies: Relax Gaming Topics: Casino & games Slots AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter You can download the First Look Games affiliate pack for this game here! 28th May 2019 | By Aaron Noy Casino & games Caveman Bob is the latest three-world adventure from Relax Gaming where cavemen and mammoths roam the Earth. This 5×3 video slot offers varied volatility and features. Trigger Bob’s Wheel of the fortune, Hand of Bob or Mammoth Re-spins for wins of up to 500x bet. Caveman Bob is the latest three-world adventure from Relax Gaming where cavemen and mammoths roam the Earth. This 5×3 video slot offers varied volatility and features. Trigger Bob’s Wheel of the fortune, Hand of Bob or Mammoth Re-spins for wins of up to 500x bet. Caveman Bob by Relax Gaming Subscribe to the iGaming newsletter Email Addresslast_img read more

Losses widen at Scout despite Q1 revenue growth

first_img Tags: Fantasy Sports Mobile Online Gambling OTB and Betting Shops Total operating revenue for the three months through to March 31, 2019 was up significantly on SEK1.5m in the same period last year. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 31st May 2019 | By contenteditor “As markets mature, new products are being demanded and we quickly get on the radar as an attractive alternative for companies wanting a broader sports offering,” Ternström said. Casino & games Fantasy sports provider Scout Gaming Group has reported increased losses in the first quarter of the year, despite operating revenue more than doubling to SEK3.5m (£290,992/€328,368/$366,196). Subscribe to the iGaming newsletter “Furthermore, we are actively working with launching additional fantasy sports related games to increase player volumes.”Revenue from clients’ end users, or sales, accounted for €1.9m of the total, with a further €1.6m coming from Scout’s B2C brand, Fanteam. Losses widen at Scout despite Q1 revenue growth Email Address Regions: Asia Europe LATAM India Southern Europe Western Europe Malta France Mexico Fantasy sports provider Scout Gaming Group has reported increased losses in the first quarter of the year, despite revenue more than doubling to SEK3.5m. Despite this increased loss, CEO Ternström said he was pleased with the performance, noting that the business was successfully diversifying into a range of new markets. As a result, Scout’s operating loss widened from SEK8.9m in the first quarter of 2018 to SEK17.0m this year. Loss before tax jumped from SEK9.1m to SEK16.12m, with the operator benefitting from financial income of €859,000.After tax of €22,000, Scout ended the quarter with a loss of SEK16.10m, compared to SEK9.1m in the prior year. This revenue increase was accompanied by growth in costs, with total quarterly spend at SEK20.5m, almost double SEK10.4m incurred in the same period last year. This rise was primarily down to higher personnel expenses, which jumped from SEK6.1m to SEK11.5m, while other external costs increased from SEK3.2m to SEK6.7m. Topics: Casino & games Finance Sports betting Social gaming DFS “As the fantasy vertical outside the US still is at an early stage, the typical customer development is strong growth from a small base, with a sharp growth gradually increasing,” he said. “During the quarter, we have continued to roll out our products in new markets and are now live, albeit small-scale, in both North and South America, Asia and Europe.”Since the end of the first quarter, Scout has launched its new Fantasy Match-up game, a form of head-to-head fantasy contests. As the game is partially odds-based, Scout has applied for a sports betting licence in Malta. Scout saw increases in activity among existing customers, as well as the launch of new customers, and this had a direct impact on income.During the quarter it signed new agreements with Mexican casino operator Logrand Entertainment, which launched a fantasy offering via its Strendus brand, and India’s Scoring11, its second customer in the country. An agreement was also signed to deliver Scout’s platform to Brazilian operator Jogaja.“Our strategy has been to increase the number of large customers and as a consequence, increase the liquidity of the network to make an even more attractive product,” chief executive Andreas Ternström (pictured) said. “We have also accelerated the process of signing distribution agreements with larger distributors, to expand the network. The post-quarter end has also seen Scout strike a partnership with La Francaise des Jeux’s FDJ Gaming Solutions division, which will see its fantasy games rolled out as a retail solution. It has also struck distribution deals with platform providers Inplaynet and Ultraplay and Digitain.last_img read more