By admin | 4th October 2011 | Casino Game Updates
Playtech, an internationally-known gaming software development business recognized for its premier software for online numerous poker rooms, online casinos, online sports betting, online bingo games, mobile gaming, among others, and the supplier of online games to some of the leading operators in the online casino business around the world, announced in June large numbers hitting into their second quarter. Playtech topped this off with recent acquisition of Gala Coral, a casino and bingo operator located in the United Kingdom,
When looking at the financial facts, revenues for Playtech were up at an annualized seven percent in the business’ second quarter. Playtech recorded increases in all its areas aside from the online poker division. In total, revenues for Playtech casinos increased by €27.3 million.
Other major news in July was that Playtech signed a new long-term software contract allowing Playtech to supply its online gaming products as well as its technology platform to Gala Coral Group, which, aside from the United Kingdom, also operates in Italy.
In the last week of July Playtech made the announcement that it was going to launch a number of important licenses in the very recently regulated online casino market in Italy. These licenses include TNT, WHO, Buongiorno, SNAI and Sisa, and all have them have launched new casinos that are powered by Playtech for all Italian online gamblers over the last few days of the month.
But there is more! Playtech also recently purchased Mobenga, a mobile sportbook out of Sweden. The deal was made for €23.8 million, with Playtech providing €8 million of the payment upfront. This will provide Playtech with an additional foothold in the arena of mobile betting, which has been increasing in popularity over the last year or so.
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By admin | 15th September 2011 | Poker News
The Alderney Gambling Control Commission (AGCC) announced a new date for the Full Tilt Poker hearing regarding their license, September 19. In this new hearing, the AGCC has changed up the venue. The legal representatives of Full Tilt Poker are now going to be questioned at the Riverbank Park Plaza Hotel. This will allow interested parties to attend the hearing, namely those whose accounts are still tied up with the online gaming company.
The original hearing took place after the suspension of Full Tilt’s operating license on June 29 of earlier this year. The hearing is to allow the company’s representatives the ability to explain the FBI indictments against Full Tilt Poker, including money laundering, bank fraud, and a number of illegal gambling offenses.
After Full Tilt Poker’s license suspension, a number of former players in the United States drew up a class-action lawsuit and filed it against the online gaming business under RICO legislation. As such, now a number of Canadian former players are following suit and also demanding the website pay the money they are owed. Many believe that there are more players that will also be adding to the lawsuit in the future.
In August, Full Tilt Poker was assigned to pay the AGCC £250,000 in past overdue licensing fees. Many individuals took this is a viable sign that the AGCC was going to permit Full Tilt Poker to re-open their gaming business outside of the jurisdiction of the United States. However, recent news has broadcasted that a potential investor in Full Tilt Poker has withdrawn from current discussions. As well, the lawyers currently representing Full Tilt Poker, along with the associated companies in the current class action lawsuit, are looking to withdraw as their defense. This makes the future of Full Tilt Poker look extremely bleak and severely dampens the chances of getting their online gambling license returned.
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By admin | 28th August 2011 | Online Casino News
Many people do not think twice about paying taxes on their winnings from online casino websites. Greek online casino gamblers who have not paid taxes on all their winnings or have been avoiding paying taxes are going to have to start thinking twice about it now. The Greek government has set up a new police squad specifically designed to locate tax evaders and, well, make them pay.
One prosecutor has already launched an investigation into a number of criminal activities arising from Proton Bank. This investigation is targeting those who are evading payment of taxes. The prosecutor has the authority to legally obtain records of bank account personal details from those they believe to be tax evaders. The prosecutor also has the ability to look into online gaming activities and all stock market activity. Those accused of dodging payment on their taxes, no matter the reason, including on all online gambling winnings will have an investigation launched against them.
The current government in Greece is determined to lay punishments on those who are not paying taxes on their online gambling winners in an effort to increase transparency throughout the country. Therefore, they have created a new force called the Financial Police Electronic Crimes Squad. It will be headed up by the Protection Minister. The squad has determined that online gambling in the country has a large turnover rate of approximately five billion Euros. This means that an estimated two billion Euros in taxes are currently not being paid. Although banks in Greece do not support these crimes, they are contributing to this tax evasion crime as a majority of these transactions are paid via credit cards. The new squad has more than 200 officers and a majority of them have previous experience with financial technology and/or accounting.
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