iGaming Industry
New EU Taxes Regulation Threatens Malta Online Gambling Field
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.…
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Source: EEGaming.
eCOGRA, a leading international authority in Testing, Inspection and Certification services for the iGaming industry, has secured new regulatory approvals across three key jurisdictions: Arizona, Indiana and Panama. With these developments, eCOGRA strengthens its position in the U.S. and Latin American markets, offering excellence in compliance through their Quality, Speed, and Service promise.
This strategic expansion allows eCOGRA to conduct independent compliance audits and certification services in each region, addressing the growing demand for rigorous regulatory oversight in the fast-evolving global iGaming industry.
Securing approval in Arizona, where eCOGRA has now been licensed as an Event Wagering Ancillary Supplier, enables the International Testing Laboratory (ITL) to audit event wagering licensees in line with Arizona’s expanding regulatory landscape. Indiana, which introduced online sports betting in September 2019, has authorised eCOGRA to perform regulatory compliance audits, providing licensed operators with crucial assurance in meeting the state’s high standards.
In Panama, the Board of Gaming Control officially recognised eCOGRA as an Authorised Entity for Compliance Certification, specifically for slot machines and gaming software. This endorsement reinforces eCOGRA’s role as a trusted partner for operators seeking to meet stringent regulatory requirements in Latin America’s emerging iGaming sector.
“Our recent approvals in Indiana, Arizona, and Panama underline our dedication to continually expand our offering, to support our growing portfolio of clients with their global growth plans. We are committed to ensuring that we bring the same quality, speed and service that marks us out to both our clients and regulators in these dynamic markets,” said Will Shuckburgh, Group CEO of eCOGRA.
Bradley Khoury, Chief Technology Officer at eCOGRA, said: “Securing licensure as an Event Wagering Ancillary Supplier in Arizona and an Authorised Entity in Panama underscores our dedication to supporting responsible and sustainable iGaming operations. We are committed to driving trust and accountability within the industry by providing compliance solutions that uphold the highest standards.”
BetConstruct, a global leader in the iGaming industry, is going to showcase its cutting-edge solutions at the highly anticipated Global Gaming Expo (G2E), taking place from October 7-10.
As the premier event for the global gaming industry, G2E serves as a hub for innovation, driving growth by bringing together industry professionals from around the world to foster business opportunities.
Taking place at The Venetian Expo in Las Vegas, this all-in-one event features both an education program from October 7-10 and an expansive expo hall running from October 8-10.
BetConstruct’s stand is 5230, where the team will showcase an exciting range of products, including the newly launched the Last Battle, a novel loyalty system that is the byproduct of BetConstruct’s commitment to innovation. The company will also demonstrate its comprehensive Sportsbook and Casino Suite, along with DECA, its next-level decentralised casino platform, and Umbrella, an AI-powered risk management solution. These offerings are designed to meet the needs of a diverse range of operators, ensuring seamless and engaging experiences for players across the regulated market.
Amusnet has announced its participation in the 23rd edition of G2E Las Vegas (Global Gaming Expo) at The Venetian Expo from October 7-10. As one of the largest expos globally, G2E provides a platform for the company to showcase products across its Online Casino, Live Casino, and Land-based verticals, positioning Amusnet as a prominent all-casino provider in the competitive iGaming industry.
“We are excited to attend G2E Las Vegas 2024 to present our latest online casino portfolio and Type S slot cabinets: our first-ever product series for Land-based casinos, designed to offer a competitive edge by combining Amusnet’s top-notch game portfolio with an immersive player experience. Our focus is on delivering solutions that maximize performance and cater to the evolving needs for both online and land-based casinos,” said Borislav Marinov, Head of Business Development, Land-based, at Amusnet.
Alongside its technical excellence, the premium Type S series showcases the company’s award-winning titles, including 20 Golden Coins, Extra Crown, Fruits & Gold, and Cocktail Rush. It also features Amusnet’s popular four-level bonus game, Jackpot Cards, along with other exciting features like Free Spins, Buy Bonus, Pick Me Bonus, and Symbol Upgrade.
Amusnet will host an activation featuring its premium slot cabinets at the upcoming expo, offering attendees the opportunity to experience the thrill of Type S in real time and win exciting gifts.
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