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Danske Spil Reports Slight Increase of Revenue in First Half of 2021

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State-owned Danish gaming operator Danske Spil has reported a slight increase in revenue for the first half of 2021, up 1.6% year-on-year to DKK2.34bn (€314.3m).

An increase in revenue from online gaming and lottery made up for declines in land-based gaming amid continued closures due to the Covid-19 pandemic.

Danske Lotteri Spil, the operator’s core business, contributed the majority of this total, aided by large jackpots and increased online ticket sales. This helped lottery revenue grow 3.6% to DKK1.35bn for the six months.

Danske Licens Spil’s online casino and sports betting offerings also enjoyed increased revenue, up 4.3% year-on-year to DKK934.5m for the first six months of the year.

The growth was helped by a full sporting calendar and Denmark’s strong performance in the UEFA Euro 2020 championship, which helped the operator pick up 38,000 new customer registrations. The fantasy sports brand Swush saw revenue rocket 442% to DKK11.4m.

Across all operators, non-lottery gambling revenue in Denmark reached DKK2.88bn (€387m) in the first half, up 6.4% year-on-year.

Danske Spil’s online gaming and lottery gains were mirrored by a decline in land-based revenue due to continued closures for most of the first half. Elite Gaming venues were closed for five months (compared to three months in H1 2020), resulting in a 58.7% decline in revenue to DKK40.5m.

Company chair Peter Christensen said the results were satisfactory, emphasising that the operator’s return to the state was up year-on-year despite the introduction of its Safe Play initiative in the first half, introducing mandatory identification checks at all venues.

Danske Spil paid DKK288.2m in state taxes and saw an operating profit of DKK1.69bn, up 1.4% year-on-year. It maintained its revenue forecast of DKK4.60bn to DKK4.80bn for the year, but it upped its profit forecast to between DKK1.40bn and DKK1.50bn.

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Gamblers Connect has officially launched its iHub, a new dedicated page created to be your ultimate connection to the iGaming world

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Gamblers Connect, the award-winning iGaming media and affiliate platform, is proud to announce the official launch of the iHub, a new dedicated page created to be your ultimate connection to the iGaming world.

The iHub exclusively features companies that have an official partnership or verified collaboration with Gamblers Connect, ensuring that every listing meets our editorial, commercial, and quality standards. To achieve this feat, we have successfully organized the complex web of the iGaming industry into a single, centralized location.

The sole purpose of the iHub is to function as a comprehensive database that allows anyone in iGaming, whether it is affiliates, operators, or players, to find the right solutions in one place. Unlike open directories, the iHub is a curated environment, only trusted, officially partnered companies are included, with no self-submissions or automated listings. The iHub, just as the industry itself, is built upon four essential pillars that cover every facet of the iGaming realm, including Affiliates, Game Providers, B2B Providers and Payment Solutions.

Every company featured within the iHub is manually reviewed and onboarded through an official partnership with Gamblers Connect, ensuring accuracy, relevance, and long-term value for the industry.

Gjorgje Ristikj, Founder of Gamblers Connect, said: “The launch of the iHub perfectly reflects our goal to be the most transparent source of information in the iGaming world. It marks a new milestone in our history, as it represents a step forward in our ongoing mission to bring clarity to the industry. By launching the iHub, we unite the four essential pillars in a transparent and centralised manner, giving our community the ultimate resources to navigate the iGaming landscape.”

The post Gamblers Connect has officially launched its iHub, a new dedicated page created to be your ultimate connection to the iGaming world appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Gaming Titans

Gaming Titans Are Relocating to Malta to Save Millions in Taxes

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The gambling industry is hitting hard on industry firms. A growing number of jurisdictions are elevating pressure on licensed operators by rolling out stricter rules and imposing higher taxes as part of the efforts to tackle illegal gambling. Amid mounting pressure, Malta quietly cultivated a reputation as the “Holy Grail” for gambling firms.

For more than a decade, Malta has become a magnet for gambling businesses regardless of size and activity. Even prominent gambling enterprises, giant firms long on the market, are leaving and relocating their headquarters (HQ) from unfavorable regimes known for exceptionally high taxes, like Germany and the United Kingdom. 

The math is mathing; businesses can save millions in annual revenue without compromising on the comfort of operating in a respected and stable regulatory framework. The most recent high-profile case involved one of the UK’s largest betting firms, Sky Bet, which has relocated a substantial part of its business to Malta, seeking to sharply reduce its tax bill.

The gap between tax regimes continues to widen, making it impossible to ignore for industry firms. Although the baseline UK corporate tax rate is set at 25%, the country has introduced additional gaming and betting duties, which are set to increase progressively, reaching up to 40% in the next two years. Subsequently, many small and large operators that have worked in the country for years reassess whether staying in the UK is still worth it.

Germany presents a similarly complex environment. Germany applies a 15% corporate income tax plus an additional levy of 5.5% on that amount, bringing the effective total to approximately 15.825% (together with other taxes, the rate may increase to approximately 28%-30%). The applicable gambling tax is 16.6% for lotteries and 5.3% for any other gambling activity. In Germany, therefore, securing positive net profit becomes the one with the stars for gambling businesses, thus driving many to reconsider their exposure and look elsewhere.

Malta, by comparison, looks like the missing piece of the puzzle. While the nominal corporate income tax rate in Malta is 35%, the country’s tax refund system allows one to effectively reduce the number to as low as 5%. Importantly, Malta does not introduce a UK-equivalent 15% gambling levy and instead applies a modest compliance contribution ranging from 0.5% to 4% per euro on the initial €2,000,000–€3,000,000 of company revenue, depending on the license class and activity.

For leading industry enterprises and groups of companies, securing a Malta gaming license and relocating to the jurisdiction can be truly transformative, potentially saving tens of millions in taxes each year.

Beyond the tax purposes, the Malta gambling license seal offers far more compelling advantages. The country has invested years in developing its gambling regulatory framework, with its licensing regime now widely respected internationally and recognized as “one of the most reputable licenses in the world,” according to Inteliumlaw, an industry-leading consultancy supporting firms during the license acquisition process.

Today, Malta has cemented a place among the world’s leading gambling hubs, with a regulator frequently regarded as one of the most experienced and well-respected. The island’s mature infrastructure and robust legal protection have made it extremely appealing both for innovating new projects and established enterprises seeking a reliable HQ base for growth.

As a result, gambling companies across Europe and other key regions are re-evaluating whether it still pays off to stay in their home jurisdiction, particularly where profitability begins to decline or no longer reaches desired thresholds. Ultimately, companies choose to leave higher-tax jurisdictions behind and move through mergers and acquisitions (M&A) or a complete restructuring.

Against this backdrop, gambling companies are debating whether relocation is worth it, but how to transition without any bottlenecks and compliance gaps while also keeping operations running seamlessly. Relocating a gambling business is not a simple maneuver; rather, it’s a high-stakes operation spanning re-licensing, corporate restructuring, and obtaining multiple regulatory approvals. Anything can go wrong, triggering compliance breaches and drawing regulator attention.

In this case, proceeding without strong legal support is akin to walking a tightrope with the eyes closed. Successful gaming business relocation to Malta typically hinges on professional guidance from firms like Inteliumlaw, who combine deep expertise in gambling licensing and corporate structuring. With proven know-how and a team of seasoned specialists, Inteliumlaw helps gaming firms navigate the Malta gaming license application process with confidence.

Malta’s rise as a premier gambling destination is neither accidental nor a mistake, but the effect of effective policy-making tailored to an in-depth understanding of the modern gambling business’s real needs. Yet, what appears to be a seamless relocation is often the result of meticulous work behind closed doors, where specialists create the right setup to truly stage the stage for successful long-term operations in the new jurisdiction.

The post Gaming Titans Are Relocating to Malta to Save Millions in Taxes appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Gaming Titans

Gaming Titans Are Relocating to Malta to Save Millions in Taxes

Published

on

gaming-titans-are-relocating-to-malta-to-save-millions-in-taxes

The gambling industry is hitting hard on industry firms. A growing number of jurisdictions are elevating pressure on licensed operators by rolling out stricter rules and imposing higher taxes as part of the efforts to tackle illegal gambling. Amid mounting pressure, Malta quietly cultivated a reputation as the “Holy Grail” for gambling firms.

For more than a decade, Malta has become a magnet for gambling businesses regardless of size and activity. Even prominent gambling enterprises, giant firms long on the market, are leaving and relocating their headquarters (HQ) from unfavorable regimes known for exceptionally high taxes, like Germany and the United Kingdom. 

The math is mathing; businesses can save millions in annual revenue without compromising on the comfort of operating in a respected and stable regulatory framework. The most recent high-profile case involved one of the UK’s largest betting firms, Sky Bet, which has relocated a substantial part of its business to Malta, seeking to sharply reduce its tax bill.

The gap between tax regimes continues to widen, making it impossible to ignore for industry firms. Although the baseline UK corporate tax rate is set at 25%, the country has introduced additional gaming and betting duties, which are set to increase progressively, reaching up to 40% in the next two years. Subsequently, many small and large operators that have worked in the country for years reassess whether staying in the UK is still worth it.

Germany presents a similarly complex environment. Germany applies a 15% corporate income tax plus an additional levy of 5.5% on that amount, bringing the effective total to approximately 15.825% (together with other taxes, the rate may increase to approximately 28%-30%). The applicable gambling tax is 16.6% for lotteries and 5.3% for any other gambling activity. In Germany, therefore, securing positive net profit becomes the one with the stars for gambling businesses, thus driving many to reconsider their exposure and look elsewhere.

Malta, by comparison, looks like the missing piece of the puzzle. While the nominal corporate income tax rate in Malta is 35%, the country’s tax refund system allows one to effectively reduce the number to as low as 5%. Importantly, Malta does not introduce a UK-equivalent 15% gambling levy and instead applies a modest compliance contribution ranging from 0.5% to 4% per euro on the initial €2,000,000–€3,000,000 of company revenue, depending on the license class and activity.

For leading industry enterprises and groups of companies, securing a Malta gaming license and relocating to the jurisdiction can be truly transformative, potentially saving tens of millions in taxes each year.

Beyond the tax purposes, the Malta gambling license seal offers far more compelling advantages. The country has invested years in developing its gambling regulatory framework, with its licensing regime now widely respected internationally and recognized as “one of the most reputable licenses in the world,” according to Inteliumlaw, an industry-leading consultancy supporting firms during the license acquisition process.

Today, Malta has cemented a place among the world’s leading gambling hubs, with a regulator frequently regarded as one of the most experienced and well-respected. The island’s mature infrastructure and robust legal protection have made it extremely appealing both for innovating new projects and established enterprises seeking a reliable HQ base for growth.

As a result, gambling companies across Europe and other key regions are re-evaluating whether it still pays off to stay in their home jurisdiction, particularly where profitability begins to decline or no longer reaches desired thresholds. Ultimately, companies choose to leave higher-tax jurisdictions behind and move through mergers and acquisitions (M&A) or a complete restructuring.

Against this backdrop, gambling companies are debating whether relocation is worth it, but how to transition without any bottlenecks and compliance gaps while also keeping operations running seamlessly. Relocating a gambling business is not a simple maneuver; rather, it’s a high-stakes operation spanning re-licensing, corporate restructuring, and obtaining multiple regulatory approvals. Anything can go wrong, triggering compliance breaches and drawing regulator attention.

In this case, proceeding without strong legal support is akin to walking a tightrope with the eyes closed. Successful gaming business relocation to Malta typically hinges on professional guidance from firms like Inteliumlaw, who combine deep expertise in gambling licensing and corporate structuring. With proven know-how and a team of seasoned specialists, Inteliumlaw helps gaming firms navigate the Malta gaming license application process with confidence.

Malta’s rise as a premier gambling destination is neither accidental nor a mistake, but the effect of effective policy-making tailored to an in-depth understanding of the modern gambling business’s real needs. Yet, what appears to be a seamless relocation is often the result of meticulous work behind closed doors, where specialists create the right setup to truly stage the stage for successful long-term operations in the new jurisdiction.

The post Gaming Titans Are Relocating to Malta to Save Millions in Taxes appeared first on Americas iGaming & Sports Betting News.

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