Kenyan sports betting operators are legally challenging the government’s demands for tens of millions of dollars in back taxes, saying the taxman is confusing customer deposits with revenue.

On Monday, local media outlet The Star reported that Kenya-licensed sports betting operators SportPesa and Betin had filed separate High Court lawsuits against the Kenya Revenue Authority (KRA), which is seeking Ksh26b (US$257m) in what it claims are gambling operators’ outstanding tax obligations.

The KRA is reportedly seeking combined payment of Ksh15.2b from the two operators that filed the lawsuits. As of July 1, the government plans to suspend the license of any gambling operator with unpaid taxes but Betin and SportPesa have asked the Court to suspend the KRA’s judgments until the legal matter is resolved.

The government believes its gambling licensees failed to remit the required 20% tax on bettors’ winnings, while the companies have countered that they were unable to withhold the funds due to court challenges filed by bettors unwilling to pay the tax.

Spanish gambling operator Codere is looking to sell off its non-performing international assets while pursuing a potential Mexican joint venture with US casino operator Hard Rock International (HRI).

On Tuesday, Spanish media outlet El Confidencial reported that Codere had hired Credit Suisse bankers to conduct a review of its underperforming international operations and decide whether these operations can be salvaged or should be jettisoned to keep them from dragging down the whole enterprise.

Last month, Codere reported its first quarter report card, which showed overall revenue down 6.7% to €357.7m, operating profit essentially flat at €37.9m and a net loss of €3.6m. The company blamed the downturn on €42m worth of unfavorable currency exchange rates in Argentina, the company’s largest market.

Argentine revenue was down 34.2% to €80.7m (but would have risen to €148m in constant currency). Argentina imposed a new 3% tax on slots winnings last December and Codere expects this to cut its 2019 earnings by a little less than €10m. Credit Suisse may also take a dim view of Codere’s other underperforming LatAm markets, including Panama (€19.1m in Q1, -12.3%) and Colombia (€5.5m, -7.3%).

Spanish gambling operator Codere is looking to sell off its non-performing international assets while pursuing a potential Mexican joint venture with US casino operator Hard Rock International (HRI).

On Tuesday, Spanish media outlet El Confidencial reported that Codere had hired Credit Suisse bankers to conduct a review of its underperforming international operations and decide whether these operations can be salvaged or should be jettisoned to keep them from dragging down the whole enterprise.

Last month, Codere reported its first quarter report card, which showed overall revenue down 6.7% to €357.7m, operating profit essentially flat at €37.9m and a net loss of €3.6m. The company blamed the downturn on €42m worth of unfavorable currency exchange rates in Argentina, the company’s largest market.

Argentine revenue was down 34.2% to €80.7m (but would have risen to €148m in constant currency). Argentina imposed a new 3% tax on slots winnings last December and Codere expects this to cut its 2019 earnings by a little less than €10m. Credit Suisse may also take a dim view of Codere’s other underperforming LatAm markets, including Panama (€19.1m in Q1, -12.3%) and Colombia (€5.5m, -7.3%).

UK National Lottery operator Camelot UK Lotteries Ltd posted record digital sales in its most recent fiscal year while retail sales merely limped along.

On Tuesday, Camelot reported its fiscal 2018-19 sales had topped £7.2b in the 12 months ending March 31, a 3.7% improvement over the previous fiscal year. Draw-based games fell by £35m to £4.08b, while in-store Scratchards and online Instant Win Games combined for sales of £3.12b, up by £290m year-on-year.

As with previous years, digital sales growth vastly outstripped retail growth. Total digital (interactive and subscription) sales rose by more than £181m to a record £1.83b, of which mobile and tablet devices accounted for £1.02b, an impressive year-on-year rise of £319m. By contrast, retail sales were up only £73.8m to £5.37b, despite efforts to introduce new sales options at some retail self-checkouts.

Despite the overall sales rise, Camelot’s total returns to ‘Good Causes’ fell by £600k to £1.65b. These good causes included £39m for Camelot’s “necessary marketing expenditure,” as agreed with the UK Gambling Commission (UKGC).

UK National Lottery operator Camelot UK Lotteries Ltd posted record digital sales in its most recent fiscal year while retail sales merely limped along.

On Tuesday, Camelot reported its fiscal 2018-19 sales had topped £7.2b in the 12 months ending March 31, a 3.7% improvement over the previous fiscal year. Draw-based games fell by £35m to £4.08b, while in-store Scratchards and online Instant Win Games combined for sales of £3.12b, up by £290m year-on-year.

As with previous years, digital sales growth vastly outstripped retail growth. Total digital (interactive and subscription) sales rose by more than £181m to a record £1.83b, of which mobile and tablet devices accounted for £1.02b, an impressive year-on-year rise of £319m. By contrast, retail sales were up only £73.8m to £5.37b, despite efforts to introduce new sales options at some retail self-checkouts.

Despite the overall sales rise, Camelot’s total returns to ‘Good Causes’ fell by £600k to £1.65b. These good causes included £39m for Camelot’s “necessary marketing expenditure,” as agreed with the UK Gambling Commission (UKGC).

A World Series of Poker round-up including Ben Heath winning the $50,000 High Roller, Sam Soverel accused of angle-shooting, and Phil Hellmuth coming close to bracelet number six.

Ben Heath began the final table of the 50th Annual High Roller $50,000 No-Limit Hold’em final table as the only person yet to experience the electrical surge that accompanies a World Series of Poker (WSOP) bracelet win. Touch him, go on, you’ll blow a fuse.

Heath was the last man seated at a final table that erupted into controversy when Sam Soverel mucked out of turn in a critical hand that saw Heath consign Dmitry Yurasov to fourth. It’s a move that’s led to a vigorous debate on poker’s grapevine as to the legitimacy of Soverel’s intentions with some star quarterbacks suggesting the WSOP ban him for a year – more on that later.

Heath defeated Andrew Lichtenberger, heads-up, to win the $1.48m first prize. The victory was Heath’s fourth of his career and his first since January 2017. All told, Heath has earned $4,531,448 in live earnings and has picked up some decent results in 2019 including finishing 4/58 in a €50,000 at the European Poker Tour (EPT) in Monte Carlo, and 7/521 in the recent partypoker MILLIONS North America in Quebec, Canada.

A World Series of Poker round-up including Ben Heath winning the $50,000 High Roller, Sam Soverel accused of angle-shooting, and Phil Hellmuth coming close to bracelet number six.

Ben Heath began the final table of the 50th Annual High Roller $50,000 No-Limit Hold’em final table as the only person yet to experience the electrical surge that accompanies a World Series of Poker (WSOP) bracelet win. Touch him, go on, you’ll blow a fuse.

Heath was the last man seated at a final table that erupted into controversy when Sam Soverel mucked out of turn in a critical hand that saw Heath consign Dmitry Yurasov to fourth. It’s a move that’s led to a vigorous debate on poker’s grapevine as to the legitimacy of Soverel’s intentions with some star quarterbacks suggesting the WSOP ban him for a year – more on that later.

Heath defeated Andrew Lichtenberger, heads-up, to win the $1.48m first prize. The victory was Heath’s fourth of his career and his first since January 2017. All told, Heath has earned $4,531,448 in live earnings and has picked up some decent results in 2019 including finishing 4/58 in a €50,000 at the European Poker Tour (EPT) in Monte Carlo, and 7/521 in the recent partypoker MILLIONS North America in Quebec, Canada.