Tag Archives: Italy

Leadstar Media: Adapting to new betting trends in Italy

Leadstar

As citizens of a proud nation, Italians love staying true to their traditions. And this is no different when it comes to routines around betting and gaming, according to Leadstar Media CEO and Founder Eskil Kvarnström. Despite the explosion of online gambling in so many countries around the world, data first collected by Statista (presented here by Eurispes) found that …

Read More »

Conte rescue plan eases tax burdens on Italian gambling

As Italy enters its fourth week of national lockdown, Italian gambling incumbents have been provided light relief by the government’s new economic measures. Prime Minister Giuseppe Conte has secured an initial €25 billion rescue package, aimed at primarily protecting company payrolls, mortgage repayments and commercial rents. Further measures see the government temporarily suspend tax duties for a number of ‘at-risk …

Read More »

NSoft or strict rules: Outcome-based vs prescriptive regulation

NSoft

Zlatan Omerspahic, Head of Legal and Compliance at NSoft, delivers a regulatory overview of the gambling industry, including key learning points from 2019 and what to expect in 2020. It is very difficult to find an industry that is changing as fast as the gambling industry, due to all the technological changes. Also, the existence of generally strict rules provides …

Read More »

Playtech shuts down Snaitech’s retail profile respecting Italian COVID-19 decree

Issuing a corporate filing, the governance of FTSE250 Playtech Plc has updated investors on its Italian market contingencies countering the COVID-19 virus outbreak. Stating that ‘Italy faces its darkest hours’, on Sunday night (8 March) Prime Minister Giuseppe Conte signed a decree that enforced severe restrictions on the movement of 16 million people within the regions of Lombardy and 15 …

Read More »

Codere Chairman calls for political sense following Royal Decree approval

Norman Sorensen, Chairman of Grupo Codere SA, has urged Spanish ministers to maintain reasoned dialogue and analysis of Spain’s gambling sector.  Sorensen made his comment in a letter accompanying Codere’s Bolsa Madrid annual statement, which emphasised that Spanish gambling has been besieged by ‘false beliefs’ and ‘radical political positions’ against its incumbents.  Sorensen’s appeal comes after Spain’s new coalition government …

Read More »

GVC’s stand-out online division offsets inevitable UK retail decline

Citing market share gains across all operating territories, FTSE250-listed GVC Holdings has backed its underlying corporate strategy to navigate regulatory complexities both home and abroad.  Publishing its full-year 2019 results, GVC has recorded a pro-forma net revenue increase of 3% to £3.65bn (FY2018: £3.57bn) driven by the strong growth of its online division and European retail portfolio.  Despite competing against …

Read More »

ECJ rejects Stanleybet Italian €8m tax appeal

European betting group StanleyBet has lost its European Court of Justice (ECJ) appeal, contesting an Italian tax dispute related to wagers processed through its data centres. During the four-year long tax dispute, StanleyBet had brought an appeal to ECJ judges, challenging Italy’s Customs & Monopiles Agency (ADM) €8 million tax demand. Italy’s ADM had demanded that StanleyBet pay €8 million …

Read More »

Playtech 2019 revenue growth outdone by costs & duties 

FTSE250-listed Playtech Plc will continue to review its corporate divisions and underlining strategy after full-year results for 2019 showed core unit growth subdued by further Asian market impacts and severe declines across its TradeTech financial services unit. Playtech recorded a 22% increase in corporate revenues to €1.5 billion (FY2018: €1.25bn), as the technology group’s ‘Core B2B’ division delivered a 15% …

Read More »

New look Newgioco establishes LatAm subsidiary

Fresh from listing its business as a US Nasdaq enterprise, the governance of betting systems supplier Newgioco Group confirms that it has established ‘Newgioco Colombia SAS’ as a new subsidiary servicing LatAm market opportunities. Based out of Bogota, Newgioco Colombia will lead new distribution agreements within South American markets, supporting Newgioco Group’s newly established global growth strategy. In its update, …

Read More »

Fabio Schiavolin – Snaitech: Gambling needs deeper skillset to navigate new decade of complexities

Speaking to SBC, Fabio Schiavolin, Chief Executive of Snaitech, has emphasised that entering a new decade, European sector incumbents will have to develop deeper skillsets as the ‘industry’s credibility remains in play’. Accustomed to leading Snaitech through Italy’s many political disruptions, last year at ICE 2019 Schiavolin warned European leadership counterparts that betting had to find its ‘public rationale’ in order to …

Read More »