Regulation round-up 25 April 2017
The biggest regulatory news from the egaming industry in the last seven days (19 April to 25 April 2017)
Malta to build national betting exchange for operators
Regulator’s new concept designed to let sportsbooks hedge major liabilities
The Malta Gaming Authority (MGA) has announced plans to set up a national betting exchange to help sportsbooks hedge positions and lay off liabilities.
The concept was first revealed last week by MGA chief executive, Joseph Cuschieri, as part of a series of changes designed to make the Mediterranean island “more attractive as a remote gaming jurisdiction”.
The exchange project is currently undergoing a feasibility study, with details including operator access, technology provision and commission rates still being worked out.
However, Cuschieri told EGR Intel: “From initial feedback to the idea, existing licensees, operators (who are not licensed in Malta) and other local institutions are supportive of the concept.
FOBT report parked until post-election
The UK government will delay the publication of its review into FOBT stakes and gambling advertising should MPs rubberstamp a June General Election later today, EGR Intel can reveal.
Following previous guidance from Secretary of State for Sport, Tourism and Heritage, Tracey Crouch, the gambling industry had been expecting to learn in “late spring” of the conclusions drawn by the Department for Culture Media and Sport’s (DCMS) Triennial Review into stakes and prizes.
However, a spokesperson for the DCMS this morning told EGR Intel that Crouch’s earlier guidance would be “superseded” by a General Election, and as a result “could not publish the report during purdah” – the name given to the timeframe prior to an election.
Seven days in regulation:
Swedish gambling regulator names new director general
Swedish gambling regulator Lotterriinspektionen has promoted Camilla Rosenberg to acting director general to replace its former chief Håkan Hallstedt.
Rosenberg, whose new position will take effect on 15 May, previously acted as head of operations for the authority’s gaming department, managing licensing and regulatory activities.
She formerly held various positions within the civil service, including a managerial role at Sweden’s Ministry for Finance. She also worked within the private sector as a tax consultant for KPMG.
New horseracing levy on the home straight following EU approval
The European Commission has approved the UK government’s plan to reform the Horserace Betting Levy, removing the last major obstacle to the new tax.
The plan calls for a 10% tax on racing GGR above a £500,000 threshold, with all operators accepting bets on UK racing obliged to pay, rather than solely UK-based bookmakers.
“The Commission has approved the measure because it recognises that it is essential for the improvement of horse breeding and horseracing without giving rise to undue distortions of competition,” the EC said in a statement.
Australian operators brace for TV sports ad ban
Australian online betting operators could face a total ban on TV advertising during sports broadcasts under proposals being considered by the federal government.
According to The Australian, communications minister Mitch Fifield is expected to table the proposals during this week’s Cabinet after meetings with AFL CEO Gillon McLachlan and NRL COO Nick Weeks.
The move, which is supported by anti-gambling Senator Nick Xenophon, would see all betting adverts banned from the start to the end of matches on both free-to-air and pay TV.