Yearly Archives: 2012

LGA to set up Responsible Gaming Fund

The Malta Lotteries and Gaming Authority is planning to create a Responsible Gaming Fund to enable it to run a campaign on responsible gaming and also help people addicted to gaming, Finance Minister Tonio Fenech said today. Speaking during a visit to the LGA’s offices, Mr Fenech underlined the importance of the gaming industry to the economy. He said that revenue from duty on gaming has risen by 40% since 2007 and reached €47.5 million last year. The number of licence holders increased three-fold in three years as the gaming sector grew by 29%. He said the sector now employed…

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Switzerland and Italy agree on dialogue on financial and tax issues

The Federal Department of Finance (FDF) and the Italian Ministry of Economy and Finance have announced that a working meeting will soon take place. During talks held, State Secretary Michael Ambühl, Head of the State Secretariat for International Financial Matters (SIF), and Ambassador Carlo Baldocci, Diplomatic Adviser to the Italian Ministry of Economy and Finance, discussed various financial and tax issues. Also in light of the recent developments in the European Union, their discussions included the model for an agreement on the regularisation of assets held in Switzerland by non-resident taxpayers and the introduction of a withholding tax on future…

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Gaming Regulator Seals ‘Historic’ MOU with FIFA

The Lotteries and Gaming Authority has signed a memorandum of understanding with world football governing body FIFA over co-operation to avoid sports events being manipulated by malicious gamblers, the gaming regulator said. Described as “historic”, the document was signed with FIFA’s in-house agency, FIFA Early Warning System GmbH, to protect and maintain the integrity of football and sports betting. Under the MoU, the LGA, in collaboration with its licensed operators, will provide the necessary assistance to ensure the early warning system works effectively. “Such collaboration will further increase the existing deterrents and will ensure that the possibility of achieving unfair…

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Betsson to purchase Nordic Gaming Group

Only days after revealing the establishment of its new Malta-based Angler Gaming subsidiary, online gambling operator Betsson AB has announced that it intends to purchase Maltese private gaming firm Nordic Gaming Group for €65 million. Betsson declared last week that Angler Gaming will target approximately 30 non-core markets in South America, Africa and Europe while its latest target for purchase is the operator of the NordicBet, ToBet and TrioBet brands. “Through this transaction, Betsson continues to strengthen its Nordic operations and its leading position among private gaming company alternatives in the Nordic region,” said Magnus Silfverberg, Chief Executive Officer for…

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Malta regulator joins with the ESSA

In Malta, the Lotteries and Gaming Authority (LGA) regulator has signed a memorandum of understanding with the European Sports Security Association (ESSA) monitoring group to help protect and maintain the integrity of sports and sportsbetting. Brussels-based ESSA is an industry body committed to legal and responsible sportsbetting and works to keep wagering free from insider betting or bet rigging and manipulation. The LGA stated that its memorandum of understanding will see it cooperate with the ESSA in order to ‘avoid the manipulation of sports events and competitions’ by assisting the group with its reporting relationships in collaboration with its licensed…

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ISRAELI COURT OVERTURNS PROHIBITION

Israel’s Tel Aviv District Court has overturned a June prohibition after ruling that the nation’s police and Internet service providers do not have the right to block customers’ access to offshore gambling websites. The ruling was the result of a lawsuit brought in August by the Israel Internet Association against the Israel Police after law enforcement officials issued an order requiring the nation’s Internet service providers to obstruct access to a list of gambling sites located abroad including StanJames.com and VictorChandler.com. According to a report from The Times of Israel newspaper, Tel Aviv District Court judge Michal Rubinstein ruled that…

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BETSSON ESTABLISHES NON-CORE SUBSIDIARY IN MALTA

Online gambling operator Betsson AB has established a new Malta-based subsidiary in order to target approximately 30 non-core markets in South America, Africa and Europe. The new Angler Gaming subsidiary, which itself owns another entity with a Curacao online gaming license, is due to be listed on Sweden’s AktieTorget stock exchange from July and will be led by experienced gaming professional Michael Bennett as Chief Executive Officer. Betsson stated that the markets Angler Gaming is due to target comprise less than 0.1 percent of its current total revenues and encompass around five percent of its existing registered client base. “This…

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Malta has 3rd Lowest VAT Rate among 27 EU Members

Malta has the third lowest VAT rate among the EU’s 27 members, according to the latest data published in Brussels. Giving details of the new applicable VAT rates as from the start of this year across the bloc, a document released by the European Commission shows that, at 18 per cent, Malta still enjoys one of the lowest rates in the EU, almost three percentage points below the average, which stands at 20.9 per cent. Due to the ongoing financial crisis, many member states had to revise their VAT rates upwards over the past two years. In all, 14 out…

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