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Stocks stagger at UK gambling tax raid
Reports from The Guardian have suggested that the Labour Government is considering a tax raid of up to £3bn ($3.92bn) on the gambling sector. The Government is set to deliver its first budget on 30 October, with the $3bn from the sector expected to be used to plug a ‘black hole’ in the UK’s finances worth £22bn. This could be achieved in several ways, with the Institute for Public Policy Research suggesting doubling taxes on “higher harm” gambling products like online casinos.
As a result, stock prices for several prominent UK operators, including Entain, Rank Group, Evoke and Flutter have tumbled, with Evoke’s stock prices down 11% between Friday 11 and Monday 14 October.
ALH faces VGCCC underage gambling fine
The Australian Leisure and Hospitality Group (ALH) has been fined AU$177,500 (US$119,000) by the Victorian Gambling and Casino Control Commission (VGCCC), after pleading guilty to 24 charges related to underage gambling and inadequate machine supervision at multiple ALH properties between September 2022 – October 2023.
Notable violations included a teenager who was able to gamble several times at five different properties and an incident where an eight-year-old (accompanied by an adult) entered a poker machine area, which resulted in fines of AU$175,000 and AU$2,500 respectively. VGCCC CEO Annette Kimmitt stated: “We have zero tolerance for operators that flout the law, especially when children are involved.”
The WA.It is over in Peru
WA.Technology has received a certification from the Ministerio de Comercio Exterior y Turismo to bring its iGaming platform and solutions to gaming operators in Peru. These solutions will include lottery, fantasy sports and affiliate marketing tools among others.
Peru’s gaming market is expected to grow at 9% CAGR for the next eight years. On its launch in Peru, Axel Antillon, Regional Director for LatAm WA.Technology, said: “Peru represents a significant opportunity for WA.Technology; we are very excited to be embarking on this new journey!
“The country’s growing appetite for gaming and entertainment-led experiences aligns perfectly with our mission to deliver LatAm’s best gaming products.
Ramsay turns up the heat in Virginia
Gordon Ramsay is set to open his first restaurant in Virginia, with Ramsay’s Kitchen at Caesars Virginia in Danville. The restaurant, which will launch later this year as part of the new resort, will serve signature dishes including Crispy Skin Salmon and Beef Wellington, as well as local dishes like Virginia Oysters and other options from around the world. It will be able to host over 250 guests.
On the new location, Ramsay said: “I’m so proud to open my first restaurant here inside this beautiful resort. My longstanding partnership with Caesars has proven to be a fan favourite time and time again. I’m beyond excited to continue that here in the Commonwealth of Virginia by sharing my take on global cuisine.”
Irish Lottery misses gold with 6.2% sales drop
The Office of the Regulator of the National Lottery (ORNL) has reported its 2023 report, as the overseer of the National Lottery in Ireland. In total, sales were down 6.2% year-on-year, another decline, as 2022 earned less than 2021, which reported record sales of €1.05bn ($1.14bn).
However, the year did see a new revenue stream introduced in Ireland, with the introduction of EuroDreams, the first new draw-based National Lottery game in Ireland since 2004.
During 2023, the ORNL also improved its self-exclusion facility and improved the way players claim prizes. It also announced a breach in licence made by Premier Lotteries Ireland, which resulted in the ORNL withholding €23,000 in due payments to the operator.
