Tag: Latest News

vault-platform-secures-$8.2-million-in-series-a-funding

Vault Platform secures $8.2 million in Series A funding

June 7, 2021 Published by

 

Vault Platform, the pioneering workplace ethics & compliance platform, has closed an $8.2 million Series A funding round to service demand from its fast-growing client base, drive Artificial Intelligence technology for misconduct reporting and expand its team.

The investment was led by Gradient Ventures, Google’s AI-focused VC fund, and joined by London-based Illuminate Financial, as well as existing investors including Kindred Capital and Angular Ventures.

London-based Vault Platform is spearheading “TrustTech”, as the market’s preferred newcomer into the ethics, compliance and employee reporting category. It features an innovative employee app and a Resolution Hub for compliance, HR, risk and legal teams.

As employers seek to operate in more ethical, genuinely diverse and inclusive ways, Vault Platform offers them an end-to-end solution to facilitate secure communication, collaboration between teams and quicker resolution of cases. In doing so, Vault Platform aims to transform the world of ethics and compliance, protecting businesses and their people from hidden risk.

Vault Platform was founded in 2018 by co-founders Neta Meidav (CEO) and Rotem Hayoun-Meidav (CTO). Tori Reichman, a member of the founding team, serves as Chief Customer Officer. Customers include Lemonade, Airbnb, Kavak, G2, OVO Energy and others.

“Since announcing our platform to the market, the response has been remarkable,” says co-founder and CEO Neta Meidav. “Major breaches and ethical failures that go unreported can cost companies a fortune and turn into crises. Until now, enterprises could only rely on passive reporting mechanisms. Vault Platform is transformational, by empowering employees to surface the problems they experience, connecting the dots on repeated patterns and offering our customers an unparalleled risk detection capability.

“We’re just beginning to scratch the surface of AI’s potential in misconduct reporting through our unique GoTogether(™) technology and we have so much more to come.”

The need to prevent and detect risk early, build strong company culture and drive efficiencies through ethical operations has become more urgent following pressures from the SEC, who in the first seven months of fiscal year 2021 awarded $250m to whistleblowers; and the incoming EU Whistleblowing Directive, which requires companies of more than 250 employees to have a reporting solution in place by the end of December 2021. It has also accelerated with the shift to remote working during the Covid-19 pandemic that has become the defacto norm for many employers.

“Vault Platform tackles an important space with an innovative and timely solution” says Gradient Ventures Founder and Managing Partner Anna Patterson. “Vault Platform’s application provides organizations with a data-driven approach to tackling challenges like occupational fraud, bribery or corruption incidents, safety failures and misconduct. Given their impressive team, technology, and customer traction, they are poised to improve the modern workplace.”

soldo-data-reveals-cfos-caution-cashflow-and-overspending-will-challenge-economic-recovery

Soldo Data Reveals CFOs Caution Cashflow And Overspending Will Challenge Economic Recovery

June 7, 2021 Published by

CFOs across the UK warn that cashflow and overspending are the main barriers to their organisation’s financial recovery. The research, commissioned by Soldo, a European pay and spend automation platform, found that 60% of CFOs are forecasting that their business will not recover to pre-pandemic levels until October 2022. 3% of CFOs that say their business has already recovered, while 2% forecast recovery is still over five years away.

Investment Spending Reduced in The Early Stages Of The Pandemic

60% of UK businesses cut their spending in response to the pandemic, with the average business reducing expenditure by 14% in the last financial year. Economists have modelled this data, suggesting that across the UK, business spending was reduced by £153 billion in 2020/2021.

Soldo’s research found that the average reduction in business spending in the last financial year (20/21) was as follows;

  • Small firms (up to 50 employees) – £417,553
  • Medium sized firms (51 – 500 employees) – £4,011,651
  • Corporates (501+ employees) – £17,251,279

Reductions in inventory and staffing costs (including contractors, reduction of permanent headcount and a freeze in the recruitment of new talent) were the main areas where business reduced their expenditure. Nevertheless, the majority of CFOs (60%) acknowledge that now is the time to re-start business spending to drive recovery as quickly as possible. Finance professionals acknowledge that there are numerous challenges associated with ramping up investment. The following were cited as the top 5 difficulties:

  • Cashflow issues (54%)
  • Managing overspending (51%)
  • Supplier relationships (44%)
  • Inability to forecast (37%)
  • Lack of insight around spending (26%)

Said Paraag Amin, CFO of dotdigital, said:

“The pandemic has focused businesses more than ever on continuing to grow through uncertain times, and digital transformation, including the shift to cloud, is one of the key enablers of this. Having access to real-time information, wherever you are, is of paramount importance. Add to this the scaling of processes, to drive cost efficiency, means that it is very important for CFOs/businesses to continue to reinvest, not just to survive the pandemic, but to thrive.”

Mariano Dima, President of Soldo, said:

“Business leaders are taking a deeper look at spending control and payment models, whether through the pandemic or the new norm. With spend management technology, the average UK business can save 2% of annual revenues and reinvest in market expansion.

“Many CFOs have doubled down on digital transformation and cash displacement. It is crucial to have the ability to forensically examine business spend, whether SaaS, retail or advertising.”

What do CFOs cite as the top challenges threatening recovery and growth?

Managing overspending – CFOs told us that overspending is the number one challenge when it comes to making investments. 50% of CFOs recognise that a digital approach to managing spend can solve overspending. Soldo gives business leaders the ability to set tight budgets and gives real time updates, helping to prevent overspending.

Cashflow issues – Poor visibility of cashflow and working capital acts as a drag on investment. Our research found that 63% of finance teams want better oversight of their working capital. Soldo enables finance teams to track spending against budgets in real time.

Lack of insight around business spending – The inability to analyse investment spending in real-time is a challenge for a significant number of finance leaders. Over a quarter of the CFOs Soldo spoke to said that they wanted more accurate and timely insights around spending. Founders and finance teams want to see spending in real time and see where and how money is being spent.

Soldo’s research found that an incredible amount was wasted across Europe due to ineffective spending controls:

€347 billion across Europe
€62 billion in Germany
€42 billion in France
€43 billion in UK (£37 billion)
€30 billion in Italy

Cloud Benefits – Making the shift to cloud accounting enables CFOs to manage and monitor investment spending more efficiently. Soldo’s research showed that an average sized company could  save more than £2.3m annually. In short, tech-enabled businesses are much more confident in their ability to invest for future growth.

titan-roulette-deluxe-–-a-true-deluxe-experience

Titan Roulette Deluxe – a True Deluxe Experience

June 7, 2021 Published by
Reading Time: 3 minutes

 

Are you a fan of games of chance? If you are, there’s no question that you’ve already tried roulette. After all, it’s the top game of chance ever to exist. Roulette brings thrills rarely any other games do – that’s a fact.

Waiting for the spin to end and seeing where the ball lands is a special experience. Of course, playing roulette in land-based casinos is a much more lavish affair than playing it online. Unless you try Titan Roulette Deluxe in Meridianbet casino. With this wheel, you’ll be transported to Monte Carlo in a second.

Meridianbet is a casino that knows its roulette games. It has plenty of classic and more exotic wheels, covering all the basics and then some. Its premier wheel, Titan Roulette, already has hundreds of fans. If you loved that one, you’ll surely love Titan Roulette Deluxe.

As the name suggests, it’s the deluxe variant of the original. Expanse Studio has refined and enhanced its popular online roulette wheel, giving it a much classier touch to enjoy. Available for free and real money in Meridianbet casino, Titan Roulette Deluxe is the wheel you don’t want to miss.

Familiar, Yet Refined Gameplay

If you’ve tried Titan Roulette, you’ll feel right at home with Deluxe. However, don’t be afraid if you haven’t – it’s still a familiar layout and design you shouldn’t have trouble with. What’s obviously different is the layout which has now been brought forward. You’ll find it much easier to play Titan Roulette Deluxe, with the table and bets almost taking up the full screen.

Of course, you can also go fullscreen if you prefer it that way. The game mimics the best roulette tables in land-based venues. The wheel is to the left, with the bets on the central and right parts of the screen. To the far right, you’ll find the controls – they are easy to access on smartphones and desktop.

Try the demo to see how everything works. It should give you a clear idea of what to expect. There’s a guide too that will walk you through the process of how to play.

How to Play Titan Roulette Deluxe

Starting the game couldn’t be easier. Right beneath the bets, you’ll see many chip denominations. Click on the one that suits you best – 1 is the default. After choosing the chip, click anywhere on the layout – the game will highlight the best for you. Click on a single number for a Straight Up, or hover your pointer on a corner between four numbers for a Square bet.

The group number bets are below the single ones. Click on the bet you want and the game will put the chip on it for you. If you’re feeling confident, double it with the x2 button.

Ready to start? Hit the Play button and the wheel will turn with a nice animation. You can skip to the end with a single click, but the excitement is bigger when you let it spin. Titan Roulette Deluxe will bring the wheel to the center at that point along with a history of bets on the left. Those will come in handy if you like to keep track. You can also view hot and cold numbers if you’re into detailed statistics.

Hovering over any number or bet will show you how much it pays and the max bet you can place. The action is followed by a classic jazzy suite that will remind you of the most lavish European casinos.

Only in Meridianbet Casino

Titan Roulette Deluxe by Expanse Studios is a Meridianbet exclusive, meaning you can only find it in our casino. We give casino fans a slew of excellent games spanning slots, blackjack, poker, and of course, roulette. Titan Roulette Deluxe is the latest in a long line of great roulette wheels which you must play.

It pairs traditional roulette gameplay with great new features and an eye-catching layout and design. You’ll be doing yourself a disservice by not trying it. No need to splash the cash right away. Try the demo and see if you like it, but we’re sure you’re going to love it.

 

https://meridianbet.rs/sr/kazino

comscore-wins-back-local-television-measurement-contract-with-capitol-broadcasting

Comscore Wins Back Local Television Measurement Contract with Capitol Broadcasting

June 7, 2021 Published by

 

Comscore (Nasdaq: SCOR), a trusted partner for planning, transacting and evaluating media across platforms, today announced a new agreement to provide Capitol Broadcasting with Comscore’s industry-leading local TV measurement, including for WRAL & WRAZ in Raleigh, NC.

“Comscore has been a reliable partner for us over the past years, but we tried to make a go just using a singular service recently. However, given the rapid shifts in consumer behavior during the pandemic, and the other service declining 47% in its A25-54 set meter homes year over year in our market, we felt Comscore’s huge footprint was critical to our business,” said Joel Davis, Vice President & General Manager of Capitol Broadcasting. “With Comscore, we know 50% of homes in the market are being directly measured, making us confident the information is accurate and that we can move forward and harness the intelligence to gain an advantage in the market.”

“We are excited and proud to welcome back Capitol Broadcasting to our roster of 1,000+ stations that rely on our stable, predictive and representative television currency information to drive their revenue and profit,” said Steve Walsh, Executive Vice President, Local Markets, Comscore. “With the industry challenging the standard error of small panel-based measurement, it’s never been more important to have stable and reliable solutions.”

Comscore has more than a decade of experience measuring television viewership from return path devices across tens of millions of households in all local markets. Comscore is also a leader in instrumenting change in television measurement by enabling the adoption of advanced audiences and the move to impressions, which allow the industry to go beyond age and gender to evaluate based on consumer behaviors, interests and lifestyles. This enables TV stations, networks, advertisers, agencies and media companies at both local and national levels to effectively find and reach their ideal audiences to maximize their revenues.

wechat-pay-hk-and-visa-collaborate-to-support-disbursement-of-hong-kong-sar-government’s-consumption-voucher-scheme

WeChat Pay HK and Visa Collaborate to Support Disbursement of Hong Kong SAR Government’s Consumption Voucher Scheme

June 7, 2021 Published by

 

WeChat Pay HK, a mobile payment platform under Tencent Holdings Limited (00700.HK), today announced its collaboration with Visa (NYSE: V), the global leader in payment technology company, to support disbursement of the Hong Kong SAR government’s Consumption Voucher Scheme. The initiative aims to support economic recovery and small and medium-sized enterprises (SMEs) in their digital transformation journeys.

WeChat Pay HK has launched a new preferential policy to facilitate more local SME merchants to participate in the scheme. From May 20 to December 31, SME merchants which accept payment through “WeChat Pay HK Checkout”, a one-stop solution for easy payment collection, can enjoy a service fee waiver for all transactions, joining the existing electronic payment network of 100,000 merchants and over 3.8 million registered users.

For its part to promote local economic recovery, Visa will invest in driving consumption voucher usage at SME merchants. WeChat Pay HK has pledged to rebate the extra income generated from the scheme to merchants and users, and will launch various promotional activities for users on top of the HK$5,000 consumption voucher. Visa collaborates with WeChat Pay HK to provide promotional offers to users who use Visa to make payments through WeChat Pay HK. Through various promotions to be launched by Visa in collaboration with WeChat Pay HK, local SMEs will be able to leverage the two parties’ extensive user base, networks, and brand to expand their businesses during the scheme.

Daniel Hong, Vice President of Tencent Financial Technology: “As one of the Stored Value Facility operators to assist in implementing the Consumption Voucher Scheme, we are pleased about the cooperation with Visa to help local SME merchants to expand their electronic payment business under the scheme, and seize the opportunities of mobile payment development in Hong Kong. We are actively engaging a wide range of merchants and institutions to offer more additional discounts, so as to bring more benefits to consumers as well as business expansion opportunities to merchants and financial institutions. These efforts coincide with Tencent Financial Technology’s vision, which is connecting people with financial products solutions, and building an open ecosystem for the financial industry. ”

Maaike Steinebach, General Manager, Visa Hong Kong and Macau: “With Hong Kong’s economy rebounding, it is important that we all play our part to rebuild. Since the beginning of last year, Visa’s goal has been helping SMEs emerge stronger from the crisis. This collaboration with WeChat Pay HK ensures that the consumption vouchers will benefit the most people, from consumers to small business owners. Enabling digital payments is the beginning of the journey towards digital transformation, a springboard for post-COVID growth.”

According to research from Visa, cash usage in Hong Kong has dropped from 91% in 2019 to 78% this year[1], indicating that Hong Kong consumers are using more digital payments than cash for the first time. Both companies will continue to champion SME merchants in their digital transformation journeys and nurture the development of fintech ecosystem and digital economy in Hong Kong.

norwich-city-announce-bk8-sports-as-new-principal-club-partner

Norwich City announce BK8 Sports as new principal club partner

June 7, 2021 Published by
Reading Time: 2 minutes

 

Norwich City is delighted to announce BK8 Sports as the club’s new principal partner for the 2021-22 season.

As part of the agreement, a bespoke colourway of the BK8 logo will feature as the new front of shirt sponsor on both City’s first team match and training kits for the new season.

BK8 Sports already hold a strong position within the Asian betting market and has serious ambitions to continue to grow its brand and customer base through its partnerships within the Premier League and form strategic associations with recent trophy-winning clubs.

In 2020, BK8 launched its cryptocurrency payment gateway to support digital currencies like Bitcoin, Ethereum and USDT. In a society where cryptocurrency continues to emerge as a major currency, BK8 hopes that this partnership will increase exposure by promoting cryptocurrency to a wider audience.

A broad range of engaging and powerful activations for supporters are lined up for release over the course of the partnership.

Ben Kensell, chief operating officer at Norwich City, said: “We’re delighted to welcome BK8 as our new principal partner. It is excellent that they see the value in working with Norwich City.

“BK8 will undoubtedly be a new brand for City fans, however, they’re a well trusted name across Asia. The Premier League has an accumulative TV audience of over three billion and is broadcast into over a billion homes – a huge proportion of these Premier League fans are based in Asia.

“Supporting BK8 in marketing to this global Premier League fanbase equally affords us as a club the opportunity to further our own exposure and commercial efforts into those markets.

“Both the club and BK8 are committed to supporting the ongoing review into betting and sports sponsorship. The club continues to adhere to both an internal code of conduct, as well as the policies and guidelines put in place by the Betting & Gaming Council, when carrying out marketing campaigns with betting and gaming brands.

“The industry continues to provide a valuable source of revenue to the club that makes a meaningful difference to our wider objectives as a club.”

As part of the expansion growth strategy, Norwich City legend Darren Eadie has joined BK8 as the brand spokesperson, helping support and drive engagement both nationally and internationally for the global development of the business.

On behalf of BK8, Eadie said: “We are delighted to announce our partnership with one of the most driven and forward-thinking teams in English football.

“BK8 shares the club’s aspiration to seek continuous improvement. It is the undying desire to achieve greater heights in an unforgiving environment that brought us together. We’re all really looking forward to the season ahead with Norwich City back where they belong, in the top-flight.”

CEO of Outlast Sports and Entertainment, Salauddin Sinnakandu, who helped bring the two organisations together, said: “The synergy between the two brands and the voracious appetite to engage the supporters in Asia meant it was a no brainer to bring them together and to later help build activation programmes in the region for both brands.”

soldo-data-reveals-cfos-caution-cashflow-and-overspending-will-challenge-economic-recovery

Soldo Data Reveals CFOs Caution Cashflow And Overspending Will Challenge Economic Recovery

June 7, 2021 Published by

 

CFOs across the UK warn that cashflow and overspending are the main barriers to their organisation’s financial recovery. The research, commissioned by Soldo, a European pay and spend automation platform, found that 60% of CFOs are forecasting that their business will not recover to pre-pandemic levels until October 2022. 3% of CFOs that say their business has already recovered, while 2% forecast recovery is still over five years away.

Investment Spending Reduced in The Early Stages Of The Pandemic

60% of UK businesses cut their spending in response to the pandemic, with the average business reducing expenditure by 14% in the last financial year. Economists have modelled this data, suggesting that across the UK, business spending was reduced by £153 billion in 2020/2021.

Soldo’s research found that the average reduction in business spending in the last financial year (20/21) was as follows;

  • Small firms (up to 50 employees) – £417,553
  • Medium sized firms (51 – 500 employees) – £4,011,651
  • Corporates (501+ employees) – £17,251,279

Reductions in inventory and staffing costs (including contractors, reduction of permanent headcount and a freeze in the recruitment of new talent) were the main areas where business reduced their expenditure. Nevertheless, the majority of CFOs (60%) acknowledge that now is the time to re-start business spending to drive recovery as quickly as possible. Finance professionals acknowledge that there are numerous challenges associated with ramping up investment. The following were cited as the top 5 difficulties:

  • Cashflow issues (54%)
  • Managing overspending (51%)
  • Supplier relationships (44%)
  • Inability to forecast (37%)
  • Lack of insight around spending (26%)

Said Paraag Amin, CFO of dotdigital, said:

“The pandemic has focused businesses more than ever on continuing to grow through uncertain times, and digital transformation, including the shift to cloud, is one of the key enablers of this. Having access to real-time information, wherever you are, is of paramount importance. Add to this the scaling of processes, to drive cost efficiency, means that it is very important for CFOs/businesses to continue to reinvest, not just to survive the pandemic, but to thrive.”

Mariano Dima, President of Soldo, said:

“Business leaders are taking a deeper look at spending control and payment models, whether through the pandemic or the new norm. With spend management technology, the average UK business can save 2% of annual revenues and reinvest in market expansion.

“Many CFOs have doubled down on digital transformation and cash displacement. It is crucial to have the ability to forensically examine business spend, whether SaaS, retail or advertising.”

What do CFOs cite as the top challenges threatening recovery and growth?

Managing overspending – CFOs told us that overspending is the number one challenge when it comes to making investments. 50% of CFOs recognise that a digital approach to managing spend can solve overspending. Soldo gives business leaders the ability to set tight budgets and gives real time updates, helping to prevent overspending.

Cashflow issues – Poor visibility of cashflow and working capital acts as a drag on investment. Our research found that 63% of finance teams want better oversight of their working capital. Soldo enables finance teams to track spending against budgets in real time.

Lack of insight around business spending – The inability to analyse investment spending in real-time is a challenge for a significant number of finance leaders. Over a quarter of the CFOs Soldo spoke to said that they wanted more accurate and timely insights around spending. Founders and finance teams want to see spending in real time and see where and how money is being spent.

Soldo’s research found that an incredible amount was wasted across Europe due to ineffective spending controls:

€347 billion across Europe
€62 billion in Germany
€42 billion in France
€43 billion in UK (£37 billion)
€30 billion in Italy

Cloud Benefits – Making the shift to cloud accounting enables CFOs to manage and monitor investment spending more efficiently. Soldo’s research showed that an average sized company could  save more than £2.3m annually. In short, tech-enabled businesses are much more confident in their ability to invest for future growth.

guilhem-causse-(former-infront-x-&-aso.)-joins-prodigy-agency-as-head-of-sales-&-partnerships

Guilhem Causse (former Infront X & A.S.O.) joins Prodigy Agency as Head of Sales & Partnerships

June 7, 2021 Published by
Reading Time: 2 minutes

 

Prodigy Agency, a leading esports representation agency, has appointed Guilhem Causse, a prominent expert with over 10 years of experience in the sports industry to the role of Head of Sales & Partnerships, to lead and expand its initiative to generate commercial opportunities for its players.

Prodigy Agency, founded and directed by Jérôme Coupez, represent more than 100 players around the world , including some of the biggest stars in esports like Mathieu “ZywOo” Herbaut and Jonathan “EliGE” Jablonowski on CS:GO, Adil “ScreaM” Benrlitom and Tyson “TenZ” Ngo on Valorant, Alexandre “Kaydop” Courant on Rocket League, or Paul “sOAZ” Boyer on League of Legends.

Before joining Prodigy Agency, Guilhem was leading the strategic growth of Infront Group’s digital entity in Europe, one of the leading full-service sports marketing companies in the world, working with premium brands such as NASCAR with emerging technologies to engage fans and drive sponsorship revenue, Activision Blizzard to handle the platforms of their teams ecosystem, Chelsea FC with the award winning app “5th stand”, PGA Tour with entertaining digital experiences or Under Armour to revitalize their ad landscape.

Prior to that, he had the opportunity to manage and lead innovative digital strategy and business growth with various revenue streams at “Amaury Sport Organisation” (A.S.O.), a company organizing over 90 sports events worldwide, including Le Tour de France in cycling or Dakar Rally in motorsport to implement engaging sponsorship operations, digital rights deals, D2C services and entertaining gaming licenses.

With extensive experience in sport and working with premium brands and agencies, as well as sharing the Players First mindset and strong values of Prodigy Agency, Guilhem is the perfect match to spearhead the Sales and Partnerships growth of Prodigy and its players.

Representing the world-class roster of Prodigy Agency, with more than 100 players around the globe, Guilhem will be leading the charge and initiatives to develop and diversify revenue streams for the players, by developing new commercial opportunities through ambassadorships, sponsorships, licensing and more, with a focus on creating collaborations with non-endemic and major brands.

blueprint-gaming-revolutionises-jackpot-king-with-prize-lines-mechanic

Blueprint Gaming revolutionises Jackpot King with Prize Lines™ mechanic

June 6, 2021 Published by
Reading Time: < 1 minute

 

Blueprint Gaming has adapted its legendary Jackpot King into a slot game for the first time, featuring the leading developer’s innovative new Prize Lines mechanic.

Jackpot King Prize Lines combines the recognisable progressive jackpot system with Blueprint’s latest mechanic creation to offer an exciting gaming experience and the chance to win tremendous prizes.

During each game consisting of five spins, players aim to climb the prize ladder by completing Prize Lines, which pay horizontally, vertically and diagonally. After the initial five spins, players can choose to end their game and collect the prize awarded or spin again at an additional cost to complete more Prize Lines to climb the ladder for bigger wins.

A full house of Prize Lines triggers the iconic Wheel King, where players could win one of the three pots available through Jackpot King.

Prize Lines made its debut earlier this year with a Fishin’ Frenzy inspired game and has successfully broadened Blueprint’s reach within the online bingo community. The mechanic increases retention with symbols in view carried over to the next game as players try to complete the grid.

Jo Purvis, Director of Key Accounts and Marketing UK at Blueprint Gaming, said: “Prize Lines has instantly resonated with players since launching and we’re excited to introduce this latest game featuring our hugely popular Jackpot King.

“This marks the first time we’ve incorporated Jackpot King into a game in its own right. Fans of the progressive system are sure to love the recognisable prize ladder feature and climb their way to huge wins.”

egba-files-complaint-with-ec-over-online-poker-tax-in-germany

EGBA Files Complaint with EC over Online Poker Tax in Germany

June 5, 2021 Published by
Reading Time: < 1 minute

 

The European Gaming and Betting Association (EGBA), the Brussels-based trade union of online gaming and betting operators in Europe, has filed a formal state aid complaint to the European Commission (EC) about the German government’s move to fix a 5.3% tax on online poker and slots stakes.

According to the EGBA, the proposed tax violates the EU state aid rules because it is discriminatory against online operators. When the rule comes into force, online betting and gambling providers in the country will end up paying four to five times higher tax than their land-based counterparts.

Maarten Haijer, Secretary General of EGBA, explained:

“We have previously made our concerns about the tax proposal known to the German authorities but to no avail and they will now need to justify the measure under EU law. We appreciate the efforts made in recent years towards introducing a new online gambling regulation in the country and recognise that an appropriate tax will need to be paid by online gambling operators. However, the rate of the proposed tax is punitively high and will distort market competition and directly benefit Germany’s land-based gambling establishments over their online counterparts. We call on German politicians to rethink the proposed tax rate and bring it closer in line with the tax rate applied to online casino products in other EU countries.”

Source

 

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