Today’s need-to-know news - Friday, January 30

Today’s need-to-know news - Friday, January 30

Friday, January 30, 2015 Totally Gaming

Online gaming operator bwin.party revealed that its net revenue and cash flow in 2015 will take a hit of about €15m ($17m) due to changes in how VAT is applied in the European Union. As of January 1, EU member states can begin to apply VAT to gambling subject to certain limitations and conditions, with operator’s tax now depending on where their customers are located. Shares in bwin.party were down 0.3 per cent at midday today...

Sheldon Adelson’s ongoing effort to introduce a blanket ban on internet gambling in the US shows no signs of stopping after he reportedly met with Republican members of the House Judiciary Committee. The Las Vegas Sands Corporation chairman has long been opposed to online gaming and last year failed in an effort to outlaw activities in the country. However, it seems Adelson has not been put off and has held talks with government officials in an attempt to gather support for his campaign...

IG Group has moved to buck the trend in financial spread betting after becoming the first platform to launch a Sunday trading service. The new offering will allow clients to respond immediately to weekend events, instead of having to wait until Monday morning to begin trading...

The new Remote Gambling Act in Singapore comes into force on Monday, enabling authorities in the country to block access to unlicensed gaming websites. The new Act criminalises various remote gambling activities such as phone betting and online gambling adverts, but will allow online social games that do not allow players to convert tokens into real-money to continue operating...

GECO Gaming, formed by the merger of Wagermill and The Gaming Lab, has entered into a distribution partnership with CORE Gaming. Under the deal, development studio CORE will deploy GECO’s remote gaming server to launch its content to clients...

Andy finally, it was confirmed this afternoon that online gaming services provider BetConstruct has appointed Vahe Baloulian as its new chief executive to replace Suren Khachatryan, who is becoming an executive member of the company’s board of directors.

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