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.
Supremeland Gaming, the emerging brand in American iGaming, announced the approval of an interim Supplier License in West Virginia, further solidifying its position as a key player in the rapidly expanding iGaming industry. This milestone marks the company’s third approval following the successful acquisition of the first approvals in Pennsylvania and New Jersey.
Supremeland Gaming is approved to operate under this interim license and is now authorized to offer its cutting-edge innovation to the Mountain State.
Supremeland’s game portfolio has garnered international appeal since its debut in November 2023. The innovative brand promises cutting-edge slot play, combining immersive storytelling, state-of-the-art graphics, and impressive bonuses.
Rickard Öhrn, CEO of Supremeland Gaming, said: “The acquisition of our interim Supplier License in West Virginia is a pivotal step in our journey, reflecting on our dedication to delivering innovative experiences to a broader audience. As we expand our footprint, our commitment to excellence remains unwavering, and we look forward to contributing to the vibrant gaming landscape in the Mountain State.”
Supremeland is gaining traction for its emerging portfolio of top-notch games, including Red Panda Rising and the international debut title, Munition Mine, underscoring its commitment to pushing the boundaries of innovation in the iGaming industry.
Pragmatic Play, a leading content supplier to the iGaming industry, is continuing its momentum in the Latin American market, after signing an agreement to take its three biggest products live with Betsala.
The agreement will see Pragmatic Play’s full portfolio of award-winning Slot content go live, including recently released Slot titles Loki’s Riches and The Big Dawgs in addition to familiar player-favourites such as Sugar Rush and Gates of Olympus.
Betsala customers will soon gain access to Pragmatic Play’s Live Casino products upon integration being completed. The sector has been a focus for the provider over the previous 12 months with releases such as the dynamic Treasure Island game show which complements Pragmatic Play’s comprehensive range of casino classics such as Roulette, Mega Roulette, and Blackjack which are also available on the platform.
Completing the product offering is Pragmatic Play’s cutting-edge 3D renderings of popular sports such as horse and greyhound racing, football, and motorsports.
The latest LatAm development for Pragmatic Play sees it further boost its profile across the region where it has cemented its status as a leading supplier of casino experiences.
Victor Arias, Vice President of Latin American Operations at ARRISE powering Pragmatic Play, said: “Proving LatAm is still a key source of growth, Pragmatic Play is delighted to now count Betsala as another valued partner in the region.
“Pragmatic Play’s three leading products will soon be on the platform, and we look forward to even more players discovering its robust and engaging offering.”
Albert Bellavista, CEO at Betsala, said: “Pragmatic Play has built a stellar reputation across Latin America for its high-quality experiences, and we welcome them as our latest partner to bolster our offering and provide more thrills than ever.
“Most iGaming enthusiasts worldwide are already familiar with Pragmatic Play’s titles and we know the upcoming addition of its content will come with a great response from our players.”
Pragmatic Play, a leading content supplier to the iGaming industry, is set to make another appearance at a Latin American summit, at SAGSE LATAM in Buenos Aires.
Taking place across two days from March 20th-21st, the event sees iGaming professionals gather at Buenos Aires’ Hilton Hotel for the 32nd edition of the iconic exhibition.
SAGSE LATAM marks the second summit attended by Pragmatic Play in Latin America in 2024, with its new immersive proposal Pragmatic Play Experience, after an extremely successful exhibition tour in 2023, which saw the provider make inroads across the continent and impress industry representatives.
The gaming provider will be at Stand 120 to showcase its diverse portfolio, including Slots, Live Casino, Virtual Sports and Bingo content, alongside its brand-new Sportsbook solution.
In addition, Pragmatic Play will be a platinum sponsor of the event, highlighting the importance of such industry exhibitions and the vital role the leading provider plays in them.
Victor Arias, VP of Latin American Operations at ARRISE powering Pragmatic Play, said: “Pragmatic Play is proud to be a platinum sponsor of SAGSE LATAM and to be influential in shaping the future of the Latin American iGaming market. With a comprehensive multi-product offerings and solutions, it is poised to capitalise on the immense opportunities that the region presents.
“With an exciting range of panel discussions and interactivities that the conference brings, it is set to be yet another momentous date in the LATAM gaming calendar.”
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