Heineken beats forecasts after cutting costs

first_imgWednesday 16 February 2011 2:50 am Heineken beats forecasts after cutting costs John Dunne Heineken, the world’s third-largest brewer, beat market forecasts for 2010 earnings on as cost savings more than offset lower beer sales.Heineken said it expected drinkers in Latin America, Asia and Africa to buy more of its lagers and other drinks this year and said it would mitigate an expected low single-digit percentage increase in input costs with higher prices.Investors had been keen to hear the Dutch brewer’s outlook on rocketing raw material costs, likely to be a hot issue in 2011. The futures price for malting barley has risen 51 per cent since the launch of the contract in May last year.The group, whose chief brands are Heineken and Amstel, Europe’s number one and three beers, said it expected European and US consumers to be cautious this year, with an improving economy but higher unemployment and austerity measures.It added that the premium beer segment, including its Heineken brand in many markets, would outperform the overall beer market.Rival SABMiller, with a strong presence in faster- growing African and Latin American markets, said last month its lager volumes rose three per cent in the final three months of 2010.Heineken, for whom western Europe made up over half of revenues in 2009, suffered a group volume decline on a like-for-like basis of 3.1 per cent in 2010.Heineken’s purchase of the beer business of Mexico’ FEMSA is set to boost its operating profit from more buoyant emerging markets to 40 per cent from 32 per cent as well as securing brands Dos Equis, Tecate and Sol.The Dutch brewer’s net profit before one-offs rose by 37 per cent last year to 1.45bn euros (£1.21bn), against the average 1.38bn euros expected in a Reuters poll of 11 brokers.On a like-for-like basis, the increase was 19.7 per cent. Heineken had forecast a rise of at least a low double-digit percentage.Operating profit before one-offs rose by 25 per cent, or 8.6 per cent on a like-for-like basis, to 2.61 billion euros, compared to a consensus forecast of 2.47bn euros.The company delivered 280m euros of savings under its total cost management programme, as well as 42m euros in synergy savings from its Mexican takeover. Share Show Comments ▼center_img whatsapp whatsapp Tags: NULLlast_img read more

Commerzbank hangs on to CEO

first_img Commerzbank will extend the contract of Martin Blessing as chief executive, it is understood. The supervisory board of Germany’s second-biggest lender is said to have arranged a meeting to discuss the contract today. A spokesman for the bank declined comment. Blessing, 47, became chief executive in May 2008 and his contract was to expire in October this year. Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe 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 Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap whatsapp KCS-content Commerzbank hangs on to CEO Share Monday 21 February 2011 8:29 pmcenter_img Show Comments ▼ 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 ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com whatsapp Tags: NULLlast_img read more

BP cancels its bonuses after Gulf disaster

first_img whatsapp BP scaled back its staff pay-outs in light of the Gulf of Mexico disaster last year, according to its annual report released yesterday. Chief executive Bob Dudley, who took the top job in October after Tony Hayward stepped down, has not received a performance bonus following the Gulf spill, which killed 11 people and could cost BP up to $40bn.Chief financial officer Byron Grote will get 30 per cent of his bonus, or $207,000, to reflect strong performance in parts of the company not linked to the Gulf spill. Refining and marketing chief Iain Conn also got a £104,000 bonus.“While the tragedy of lost lives and environmental damage remains foremost in everyone’s minds, the committee also wished to fairly acknowledge the good business results in many parts of BP, delivered in the most testing of times,” said remuneration chairman DeAnne Julius in the report. Hayward did not receive a performance bonus but was paid £1.08m on leaving BP – a years’ salary plus £30,000. The firm trimmed its staff numbers by 600 to 79,700 during the year as part of a long-term programme. It said it dismissed 552 workers for breaking its code of conduct last year, up from 524 in 2009. Excluding the Gulf disaster, BP’s spill rate rose 44 per cent by volume to 1.7m litres in 2010. The number of oil spills of one barrel or more rose from 234 to 261 during the year. The firm said in its report that it hopes to eventually restart operations in the Gulf of Mexico. The deepwater drilling ban in the Gulf helped pull production volumes down four per cent to 3.82m barrels per day, the company added. BP shares closed 1.4 per cent higher at 491.5p yesterday. Share whatsapp BP cancels its bonuses after Gulf disaster Show Comments ▼ Thursday 3 March 2011 7:22 pm KCS-content Tags: NULL More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKansas coach fired for using N-word toward Black playerthegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com last_img read more

IP crucial for growth, says CBI

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’DefinitionFoundation ExpertFoundation Repair Cost In Scottsdale May Surprise YouFoundation ExpertZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldTruthfinderEnter Your Name, Wait 105 Seconds, Here’s What Your Friends Can Know About YouTruthfinderTotal PastThis Was Found Hiding In An Oil Painting – Take A Closer LookTotal Past IP crucial for growth, says CBI Robust intellectual property systems are “critical” for the UK’s economic growth, the CBI argued yesterday. “IP should be considered one of our crown jewels,” said CBI chief John Cridland. Tags: NULL Share whatsapp Show Comments ▼center_img KCS-content Thursday 3 March 2011 7:36 pm 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’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapKatt Williams Explains Why He Believes There ‘Is No Cancel Culture’ inThe Wrap whatsapplast_img read more

GW Pharma signs up Novartis to sell cannabis drug in new markets

first_img whatsapp KCS-content Share Show Comments ▼ GW Pharma signs up Novartis to sell cannabis drug in new markets whatsappcenter_img More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.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.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org Monday 11 April 2011 8:04 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDrivepedia20 Of The Most Underrated Vintage CarsDrivepediamoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald AIM-LISTED GW Pharma has agreed a deal to allow Swiss giant Novartis to market its cannabis-based medicines in new markets, to treat muscle disorders in multiple sclerosis patients. The tie-up means that Novartis will have exclusive rights to sell GW’s Sativex drug in Australia and New Zealand, plus across parts of Asia, the Middle East and Africa. Novartis will pay GW $5m (£3.06m) upfront, followed by a series of additional payments totalling $28.75m based on milestones under the terms of the deal.Already licensed for treatment in the UK, Spain, Canada and New Zealand, Sativex is awaiting approval in several European countries, with licences expected to be granted later this year. The drug is used to treat the muscle spasms and stiffness common among MS sufferers, and has been developed from active ‘cannabinoid’ ingredients found in the Cannabis Sativa plant.Shares in GW rose more than 12 per cent following the deal announcement, valuing the company at £141.5m.“Novartis has emerged at the forefront of the next generation of MS treatments, and is therefore ideally positioned to market Sativex as a symptomatic treatment alongside their disease modifying treatment,” GW’s managing director Justin Gover said. GW specialises in cannabis-based medicines, and reported a pre-tax profit of £4.6m for 2010. Tags: NULLlast_img read more

Pru repays customers £4m for undervalued pensions

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity 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 SeeBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldSenior Living | Search AdsNew Senior Apartments Coming Nearby Scottsdale (Take a Look at The Prices)Senior Living | Search Ads Tags: NULL INSURANCE giant Prudential said yesterday it would repay about £4m in total to 39,000 customers after it admitted making errors in valuing their pension funds.The Pru failed to return tax credits to unit-linked pensions funds held with Scottish Amicable, which transferred to Prudential in 2008, leaving some customers who partly sold or transferred their funds out of pocket. Prudential has written to affected customers confirming it will pay back the amount needed to return them to the position had the credit been paid.Most will receive less than £100, with about 9,000 to receive up to £1,000 and 100 to get £2,000 or more.The oversight was exposed in an internal audit. Tax deducted from investment income earned by the funds should have been recovered against Prudential Assurance’s tax liability. “We found there was some inconsistency in the way these tax ‘credits’ were paid,” the Pru said. “For some of our legacy Scottish Amicable funds…the tax refund was not paid, whereas for our other funds it was.”It altered the treatment of the credits in June 2008 to price all funds equally. This payback corrects the value of funds that were undervalued when transferred, switched or partially surrendered by customers between June 2004 and December 2008. Pru repays customers £4m for undervalued pensions whatsapp Show Comments ▼center_img KCS-content whatsapp Share More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com Wednesday 13 April 2011 8:24 pmlast_img read more

Football’s dominance to wane by next World Cup

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 6th July 2018 | By Joanne Christie Subscribe to the iGaming newsletter Tags: Online Gambling Finance Football is set to account for a whopping 63.1% of all sports betting this year thanks to the World Cup, but things will be different by the time the next one rolls around, according to H2 Gambling Capital.The leading gambling data business says the biggest changes in the market in the next four years will come from developments in China and the US.“The FIFA World Cup is the biggest single event for all operators at 5.0% of all global sports betting,  but the make-up of the market is set to change markedly between the 2018 to 2022 tournaments.“The US sports betting effect and the upswing you get in Chinese Sports Lottery betting during the event will see China become the largest World Cup betting market by Qatar 2022,” says David Henwood, co-director at H2.As the below dashboard shows, China has already overtaken the UK in terms of the total size of its sports betting market, but the US is set for strong growth following the repeal of PASPA, which means individual states can legalise sports betting.The US market is expected to be huge, but given football is less popular in the US than in Europe — H2 predicts it will account for only about 5-6% of the US regulated market — the addition of US gross win to the global pie will reduce football’s share of the market.“The interesting trend to watch going forward will be the undoubted growth in US sports (American football, baseball, basketball, ice hockey), already at 11% of the global pie in 2018, and set to eat further into football’s dominance over the next four years,” says Henwood.China’s impact on the market will be somewhat different – H2 says while mobile and in-play betting are set to become stronger on a global basis, the growth in China Sports Lottery betting will offset some of this growth as typically its bets are placed pre-match and using land-based facilities.Nonetheless, Henwood says in terms of the World Cup specifically, “76% of all Russia 2018 betting will be on mobile, growing to some 89% by Qatar 2022”.H2 Gambling Capital is the gambling industry’s leading consulting, market intelligence and data team. The company has a track record of 15 years focused on the global gambling industry, its projections have been influential in shaping legislators’  and investors’ views of the gambling sector across the globe. Topics: Finance Sports betting Football’s dominance to wane by next World Cup The beautiful game is set to account for 63.1% of all sports betting this year thanks to the World Cup, but things will be different by the time the next one rolls around, according to H2 Gambling Capital Regions: Asia Europe US Email Addresslast_img read more

Digital Sports Tech sets industry-first with NCAA prop betting

first_img Sports betting solutions provider Digital Sports Tech (DST) has launched what it says is the first player prop betting offering for US National Collegiate Athletic Association (NCAA) events. Digital Sports Tech sets industry-first with NCAA prop betting Sports betting Email Address Subscribe to the iGaming newsletter Regions: UScenter_img Topics: Sports betting Tech & innovation AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Sports betting solutions provider Digital Sports Tech (DST) has launched what it says is the first player prop betting offering for US National Collegiate Athletic Association (NCAA) events.Available via DST’s Props Data Feed and Props Builder products, NCAA Player Props covers all regular-season basketball and American football contests and bowl games, as well as the March Madness basketball tournament that began yesterday (March 19).Sportsbook customers can use the service to wager on any player’s statistical performance, including total points, assists and rebounds in basketball, as well as passing, rushing and receiving yards in American football.Operators that use the new service can offer up to 200 individual markets per match.“College sports are hugely popular with bettors who closely follow US sports, and March Madness, in particular, attracts the attention of millions all looking to place a wager during this mouth-watering tournament,” DST executive director Ari Lewski said.“We’re giving our partners the opportunity to provide a market-leading NCAA offering to their users with our comprehensive coverage of player props markets across not only March Madness but all the top college basketball and football matches going forward.”The launch comes after DST in December rolled out its first NCAA offering, which has allowed punters to wager on traditional markets across collegiate sporting events.Image: Phil Roeder 20th March 2019 | By contenteditorlast_img read more

Regulatory reflections on Germany and the Netherlands

first_img KPMG’s latest Malta Gaming eSummit looked at the changing regulatory landscape in Germany and the Netherlands – and its implications for gaming operatives. Dr Alan Littler, along with Claus Hambach and Dr Wulf Hambach, partners of specialist law firm Hambach & Hambach, and Justin Franssen, partner of Kalff, Katz and Franssen, reflect on the issues raised during their panel session at the eSummit. Tags: Mobile Online Gambling OTB and Betting Shops Casino & games With regards to the tax situation in Germany, state lotteries and politicians who want to maintain the status quo of a strict online gambling ban continue to claim that unregulated online-gambling operators do not pay tax in Germany. However, according to estimates, it appears these “illegal” online gambling operators have paid approximately €2bn in German sportsbetting tax and approximately €1bn in German VAT so far.Nevertheless, German states are currently intensifying enforcement measures against these operators. If the gambling authorities are finally successful they would cut a billion euro cash flow as well. The panel noted that proper regulation goes hand-in-hand with proper taxation and vice versa.Dutch progress In the Netherlands, it is widely known that the introduction of legislation to enable the licensing of remote gambling is proving to be a drawn out process. The Remote Gaming Bill has been pending before the Senate since 2016.Last September, the Ministry of Justice & Security ran a consultation process on the draft decree. Contrary to expectations, further secondary legislation was not published for consultation. Unusually, the Senate had posed a third round of written questions on the Bill; two is the norm. These were answered by the Ministry shortly before Christmas but nothing particularly new was revealed.Since the KPMG Malta Gaming eSummit took place in November 2018, the situation has evolved considerably. The bill was subject to a two-part plenary debate before the Senate in February 2019, with the plenary vote taking place on Tuesday 19th February. The government was able to command 44 of the 75 seats in favour of the Bill. However, this does not mean that the licensing process will open immediately, and neither was it without some political bargaining.An ongoing bone of contention during parliamentary discourse has been how the ‘Bouwmeester motion’ will be implemented. This motion, passed by the House of Representatives in September 2011, calls for those parties which have been unlawfully present on the market to be refused a licence in due course.  Two amendments were tabled before the Senate, one calling for a five year cooling off period before such operators can enter the market, the other calling for such a period to last for two years.The motion calling for two years passed, and whilst the details remain to be seen, the cooling off period will require operators not to have any presence on the Dutch market but without going as far as a blackout.Furthermore, those operators who have not had a locally unlicensed presence on the Dutch market (incumbent land-based parties, but also some remote operators who have refrained from serving customers in the Netherlands) will be able to enter the market prior to those which have had such a presence.As things appear the cooling off period may also enable those operators which have been sanctioned by the Gambling Authority to enter the market. The Gambling Authority will publish policy rules on this matter, prior to summer 2019, for consultation.A number of other consultation processes are also in the pipeline for this year, including on the Gambling Authority’s guidance on giving effect to the duty of care and another by the Ministry of Justice & Security on the draft ministerial regulations for remote games of chance, which will follow that which took place in autumn 2018 on the draft decree.On the basis of information currently to hand, we expect the amendments to the Wet op de kansspelen (Betting & Gaming Act) to take effect on 1 July 2020 and for the licensing process to open on that date or shortly thereafter.Generally, the latter half of 2018 saw an increase in enforcement in the Netherlands. Until June 2017, the Gambling Authority’s approach to enforcement against unlicensed operators was based on three prioritisation criteria. The situation became somewhat more vague with the introduction of further criteria and recent sanction decisions for a locally unlicensed presence on the market have been triggered by factors which, a couple of years ago, would not have resulted in enforcement measures being sought.With regards to taxation, Dutch residents are required to pay tax on winnings from remote games of chance when the operator is based abroad. However, this does not apply to poker and online casino games offered from within the EU.Once operators offer services under locally-awarded licences, players will only remain liable for gambling tax themselves should they continue to play with locally unlicensed operators.Currently, the rate of taxation is 30.1% across varying bases for the incumbents. Following the passage of the Remote Gaming Bill, the rate will fall back to its original 29%; this will be the rate applicable to locally-licensed remote operations. Remote operators will be taxed at a rate of 29% GGR. It is possible that, a few years after the remote gambling regime is up and running, the tax rate could be reduced by up to 4% but this will require a legislative amendment.Several incumbents only pay tax on prizes exceeding €449, including those offering land-based sports and horserace betting. To avoid state aid complications once the remote market opens, the threshold will cease to apply for such betting operations.  Subscribe to the iGaming newsletter KPMG’s latest Malta Gaming eSummit looked at the changing regulatory landscape in Germany and the Netherlands – and its implications for gaming operatives. Dr Alan Littler, along with Claus Hambach and Dr Wulf Hambach, partners of specialist law firm Hambach & Hambach, and Justin Franssen, partner of Kalff, Katz and Franssen, reflect on the issues raised during their panel session at the eSummit.Starting with Germany, it was agreed the country’s online gambling market is highly complex from regulatory, legal and tax viewpoints. The panel considered that new online gambling regulation, due to be enacted in 2021 and including casino, poker, sports betting and perhaps other verticals such as betting on eSports, offered a promising perspective.Authorities in Schleswig-Holstein might re-establish and enforce regulation of the online casino market. However, enforcement and payment blocking in particular are currently used on the basis of a federal administrative court decision prohibiting online casino.The panel also highlighted that, from 2019 onwards, a new white list for online gambling operators might be established and this had been recently discussed by regulatory decision makers in Germany. 9th April 2019 | By contenteditorcenter_img Regulatory reflections on Germany and the Netherlands AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: Europe Central and Eastern Europe Western Europe Germany Netherlands Topics: Casino & games Legal & compliance Sports betting Email Addresslast_img read more

NY betting bill amended to permit in-stadium wagering

first_img Some of New York’s sporting arenas could be able to offer betting to patrons, after legislation to legalise land-based and mobile betting was amended by authors, Senator Joseph Addabbo and Assemblymember Gary Pretlow. Email Address Regions: US New York Tags: Mobile Online Gambling OTB and Betting Shops Race Track and Racino Some of New York’s sporting arenas could be able to offer betting to patrons, after legislation to legalise land-based and mobile betting was amended by authors, Senator Joseph Addabbo and Assemblymember Gary Pretlow. Addabbo’s bill, S17, and Pretlow’s companion bill in the New York Assembly A6113 were amended yesterday (June 6) to significantly expand the outlets at which betting would be legal, should it pass into law.Both off-track betting (OTB) locations and New York Racing Association (NYRA) facilities would be allowed to offer mobile wagering via kiosks, per the amendment. These would be allowed to launch betting alongside New York State’s four upstate casinos. Facilities hosting video lottery terminals and racinos, however, would only be allowed to launch sports betting 12 months after the vertical goes live at the casinos, OTBs and NYRA outlets. The bill’s definition of affiliates to licensed sports betting operators has been amended to include sports arenas. This means casinos could partner stadia to offer sports betting. However, this would only be permitted if the county in which the stadium is located does not have an existing affiliate, such as an OTB, franchised gambling outlet, racetrack or VLT facility. Under these terms Madison Square Gardens on Manhattan, which has already trademarked is brand for gambling purposes, would be eligible. Read the full story on iGB North America. 7th June 2019 | By contenteditor Topics: Casino & games Legal & compliance Sports betting Horse racing NY betting bill amended to permit in-stadium wagering AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Casino & games Subscribe to the iGaming newsletterlast_img read more