Tag Archives: Italy

£4.8m point of consumption bill blunts 32Red’s record growth

Gaming operator 32Red has posted a record revenue performance for 2015 with a 52% increase in net gaming revenues for the year – however its figures have been blunted by a £4.8m point of consumption tax bill. The firm saw 35% increase in its core 32Red revenues to £41.7m, a 54% jump in its Italian business to £1.7m and a …

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Paddy Power revenues hit €1bn before Betfair merger

Both Paddy Power and Betfair were achieving double digit growth ahead of their merger last month – Paddy Power had grown its revenues by 24% to €1.1bn in 2015, while Betfair’s final quarter as an independent company saw revenues increase by 21%. However both firms also had their figures blunted by taxation. Over 2015 Paddy Power’s operating profit increased 10% …

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Inspired welcomes change to virtual events limit in Italy

Virtual sports provider Inspired has welcomed changes to betting legislation in Italy, which will extend the current limit of 500 virtual events per day to 2,000 across land-based and digital channels. Opening times have also been lengthened by an additional 2 hours, enabling operators to keep players entertained for longer. The Inspired software has supported the development of a €1 billion …

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SKS365 Group selects Global Bet to provide its Virtual Sports products

European betting and gaming operator SKS365 Group has selected Global Bet to provide its Virtual Sports products to the portfolio of 1,000 planetwin365 betting shops throughout Italy. The expanding international bookmaker from Austria also plans to roll out the Virtual Sports games across its Italian website and mobile platforms later in the year. Daniel Grabher, CEO of Global Bet, stated: …

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Coral reveals Six Nations backing for Jones’ England

An eagerly awaited Six Nations kicks off tomorrow in Paris, as Europe’s finest look to move past collective Rugby World Cup disappointment. Despite becoming the first host nation to fail at the group stage, Coral have confirmed that many punters are backing England to come good under Eddie Jones and restore some pride in the Red Rose. John Hill, a …

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SNAI appoints Chiaffredo Rinaudo as CFO ahead of Cogemat merger

Italian gambling operator Gruppo SNAI has confirmed the appointment of Chiaffredo Rinaudo as new Chief Financial Officer (CFO). Rinaudo takes the executive role as SNAI looks to complete its merger with licensed Italian market gambling technology and content provider Cogemat (deal first announced May 2015). Rinaudo had previously served as CFO of Cogemat holding company Cogetech As CFO of the combined …

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Amaya Inc settles PokerStars Italian tax dispute

Toronto listed Amaya Inc has confirmed that it has paid €5.9 million (£4.3 million) as a final settlement to the Italian tax authorities. The settlement relates to subsidiary PokerStars ongoing tax dispute with Italian regulators, which had seen the firm investigated by the Guardia di Finanza (Italian Financial Police) in 2015. Italian gambling regulators had claimed that PokerStars had approximately …

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Italy reforms online betting duty to 22%

Italy’s ministry of finance and the national chamber of commerce have pushed through a series of amendments for the Italian gambling sector. The amendments set to be implemented in 2016, center on reforming gaming duties in order to improve industry commercial conditions. Italy will drop its controversial online betting turnover tax, set between 2-5% for and adopt a 22% charge …

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Sky Betting & Gaming hires Giovanna D’Esposito as Sky Bet Italia MD

Bolstering its European operations, Sky Betting & Gaming (SB&G) has appointed Giovanna D’Esposito as Managing Director of Sky Bet Italia. Industry news source EGR Magazine reports that the former Paddy Power Italy MD, will be charged with establishing and leading SB&G products within the Italian market, as the firm looks to grow its operations outside of its core UK marketplace. …

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MRG Systems providing data at your customer’s fingertips

MRG Systems has given one of its most accessible products an overhaul and presented a new look solution for the display of customer data. The firm has revamped its DailyForm product, making it more cost effective while giving it a whole new look with additional features. MRG has almost turned the whole product on its head; switching the original DailyForm …

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