Italy’s sports betting operators will have a higher than expected temporary pandemic-related turnover tax, although it will run for a shorter period than expected.

This week, Italy’s government issued the final text of its so-called Relaunch Decree, which lays out the parameters of the country’s plan to restart its economy after most retail operations were ordered closed to limit further spread of the COVID-19 coronavirus.

Earlier drafts featured a 0.75% tax on all betting turnover – be it land-based, online or virtual sports – with the proceeds earmarked to help the nation’s sports sector emerge from its pandemic hibernation.  This rate was reduced to 0.3% in later drafts, with the stipulation that the tax would remain in effect until December 31, 2022. 

The definitive draft now calls for a 0.5% tax rate, but the government shortened the tax duration by one year, meaning it will only apply through December 31, 2021. The government has kept the previously stipulated sums to be collected via this tax at €40m this year and €50m in 2021, although these are now maximums rather than minimums.

Sweden’s online gambling activity hasn’t increased during the pandemic, undercutting the principal argument used to justify the government’s proposed new limits on online deposits and losses.  

On Tuesday, Sweden’s Spelinspektionen regulatory body issued a report that said its online gambling licensees’ turnover in the month of March was 5.9% below March 2019’s figure and preliminary figures for the month of April show a 5.4% year-on-year decline.

Spelinspektionen cautioned that it hasn’t yet been able to determine whether the overall decline reflects sports bettors going dormant following the mass suspension of major sports due to COVID-19, or how much of their activity may have been transferred to online casino or poker products.

Spelinspektionen analyst Magnus Granlund told local media that, because of the way that online licensees report revenue, “we cannot say that [online casino activity] has increased, but we cannot exclude it either … It is very difficult to read anything.”

Odds courtesy of OddsShark.com

After racing last Sunday and Wednesday at Darlington in South Carolina, the NASCAR Cup Series heads to North Carolina this Sunday with one of its signature events of its annual schedule: The Coca-Cola 600 at Charlotte Motor Speedway, which will run on the American Memorial Day weekend for the 60th consecutive year.

The Coca-Cola 600 is arguably the second-biggest event on the schedule behind the season-opening Daytona 500 and also the longest race on the slate. It’s a bit unusual with the 6 p.m. ET start time because the race starts in sunshine and ends at night – last year’s took nearly five hours. Track conditions change throughout with the drop in temperatures, etc.

While there will be no fans in attendance again and no practice sessions, there will be qualifying for this race unlike the two in Darlington.

Finding an amicable solution to a South Carolina (SC) tribe’s plans for a casino in territory claimed by a North Carolina (NC) tribe seems to be out of the question. SC’s Catawba Indian Nation received federal approval to build a casino just north of the border into NC on land the tribe was given in a trust, but the Eastern Band of Cherokee Indians (EBCI), which calls NC home, has balked at the idea. The two tribes will now most likely have to have the fate of the gambling facility decided in court, thanks to a lawsuit submitted by the EBCI.

SC doesn’t allow casinos, so the Catawba sought approval to acquire land in NC, just north of the NC-SC border. After eight years, the US Department of Interior (DOI) finally granted the land request after accepting the tribe’s argument that it had ancestral land in what is now known as NC (which, of course, only became NC after settlers came in and drove out the tribes). The Cherokee have asserted that the Catawba don’t belong in NC, and are suing to reverse the DOI’s decision.

The lawsuit reads, in part, “Instead of abiding their trust duties and obligations under federal law to consult with the EBCI concerning the issues and concerns the EBCI raised with regards to Defendants’ proposed final agency action, Defendants ran roughshod over the Administrative Procedures Act, National Environmental Protection Act and the National Historic Preservation Act…without issuing a Final Environmental Assessment or Finding of No Significant Impact, in direct violation of the APA and NEPA.”

Both tribes assert that they have a long history in what is now known as NC and SC, but the Cherokee rely on two documents, the Cherokee Treaty of 1777 and the 1884 Royce Map of Cherokee Land Sessions, to support its position that it was the predominant tribe in the region. In testimony attached to the lawsuit, which was filed shortly after the DOI’s decision was made public, EBCI Tribal Historic Preservation Officer Russell Townsend states, “If the Kings Mountain site is taken into trust for the Catawba Nation, the land will fall under the sovereign governance of the Catawba Nation, and the EBCI THPO [Tribal Historic Preservation Officers] will lose the right to consultation on and protection of Cherokee religious and cultural sites.”

According to some estimates, the number of people in the U.S. filing for unemployment due to the coronavirus has topped 39 million, a figure that is approaching the number of claims associated with the Great Depression of the 1920s. The good news is that the number seems to be leveling off, a possible indication that the situation could be stabilizing. However, the bad news is that there are still 39 million people out of work, some of whom will never be able to return. Instead of looking at the downside of being unemployed, perhaps many of these can take advantage of the situation to take their careers in a completely different direction. 

Even in an overwhelmingly positive economy, changing careers can be stressful. However, there are things that individuals can do to help make the transition easier. The first is to embrace “liminality,” a way of describing the spot between what was and what can be, even if it is unknown. According to Herminia Ibarra in an article in the Harvard Business Review, “Liminality can be an unpleasant state to inhabit emotionally. People going through it feel unmoored, lose their bearings, and oscillate between ‘holding on’ and ‘letting go.’ But this fraught stage is a necessary part of the journey, because it allows you to process a lot of complex emotions and conflicting desires, and ultimately prevents you from shutting down prematurely and missing better options that still lie ahead.”

Another suggestion that can help with the transition is to get involved in a number of different projects. Use the downtime to develop new skills, knowledge and resources that can help open the doors to new options going forward. Ibarra explains, “This activity is crucial. It helps you work through not only the practical questions but also the existential ones that drive career change: Who am I? Who do I want to become? Where can I best contribute? We learn who we want to become by testing fantasy and reality, and, of course, by doing.”

Networking is always a good tool to have in one’s arsenal in any situation – positive or negative. Over time, many contacts in networking circles become relegated to the bottom of the list, only to be contacted every so often to say hello or happy birthday. Now is the time to rekindle those relationships and foster renewed communications. Spare time is not a fleeting commodity at this point – those who are out of work should have extra time to spare to nurture those relationships, and there’s no telling what good could come from them. 

Singapore is looking to get back to business, but not for everyone. As the city-state continues to see new COVID-19 cases, the government has declared that some businesses will be allowed to return to work. Not casinos though, as GGRAsia reports the current gaming shutdown is expected to be extended.

The Casino Regulatory Authority (CRA) has told the outlet that the current shutdown on gambling, which has an end date of June 1, will be extended. The city’s two casino operators, Las Vegas Sands (Marina Bay Sands) and Genting Singapore (Resorts World Sentosa) – have been shut down since April 7.

This announcement comes after the government moved into phase 1 of reopening the economy. The finance and wholesale sectors will be allowed to return to work on June 2, along with the nearly 40 other sectors, adding up for nearly 75% of the economy. This includes consumer electronics manufacturing, logistics, telecommunications and professional services, but not retailers or hotels.

 “The government will further monitor and assess developments in the Covid-19 situation to determine the appropriate timelines for the gradual resumption of more businesses and activities, including the casinos,” the CRA noted.

Everyone knows that the coronavirus has had a serious impact on the bottom lines of a lot of companies around the world, especially those that make a living in the casino and gaming spaces. Some have had a more challenging time trying to stay alive, and widespread consolidation as assets have to be sold to cover losses is not beyond the realm of possibility. Asia Pioneer Entertainment (APE), which has lease agreements for casino gaming equipment with a number of companies, is now looking for ways to cover its losses, as two of the companies with which it has lease agreements have defaulted on their payments, according to a filing (in pdf) it presented to the Hong Kong Stock Exchange. The result is a write-off of $3.4 million and rising. 

APE is behind APE Macau, a company that provides casino slot machines and electronic table games throughout APAC. It distributes and services the machines, as well as provides leasing and consultancy assistance to operators in the gaming industry. The finance lease agreements it has held with Glimex Inc and Siam Star Leisure Co. since December 2018 for the leasing of gaming equipment were running smoothly since their inception, but suddenly fell into a pothole as a result of COVID-19. Apparently, the two companies are not able to cover their respective agreements, forcing APE to cancel the deals. 

APE had an arrangement with Glimex for equipment that was used at a casino in the Philippines, while its deal with Siam was for a similar setup for a casino in Cambodia. Per both agreements, in the event the lessee is unable to make a payment on time, “the relevant finance lease agreement shall be terminated without the need for any notice or demand.” That is the position in which APE now finds itself, explaining in its filing, “As at the date of this announcement, Siam Star and Glimex have failed to pay APE Macau lease rental of approximately HKD17 million and HKD9 million ($2.193 million and $1.161 million) respectively under the finance lease agreements.” It clarified that that agreements were terminated as of 21 May 2020.

Of course, the problem is that the two companies have equipment that technically belongs to APE, and it can’t exactly drive around with a box truck to recover the machines. However, it wants the products returned and has “exercised its rights to demand the return of the electronic gaming equipment leased.” If it is successful, it will then look for new targets “in Macau or other Southeast Asia countries.”

Two months ago, almost to the day, work on expansion of the Galaxy Macau casino was suddenly forced to a halt when scaffolding being used for the construction suddenly collapsed, killing three.  The already-delayed project now faced further work stoppages and issues that pushed the completion timetable back even further, but the bigger concern was what caused the accident.  Investigators have been busy trying to figure out exactly what went wrong, and they now believe they know what happened.  The results won’t eliminate Galaxy Entertainment, the casino’s promoter, from possible liability. 

In the case of many accidents, trying to rush a project or event is the leading cause.  Phase 3 of the large casino resort was already behind schedule when the coronavirus hit Macau, leading to even further setbacks.  As the construction crews were able to return after a brief shutdown, it’s possible that corners were cut to try to put things back on track, and maybe someone decided to forego the requisite safety checks, or perhaps they absentmindedly overlooked the procedure.  Either way, seven workers who had climbed onto the construction scaffolding suddenly found themselves in a freefall when the framework gave way, leading to three deaths and serious injuries for the survivors. 

The investigation has revealed that the scaffolding didn’t hold up for two primary reasons.  The Labour Affairs Bureau (LAB) indicates that it had a “lack of maintenance and was stocked up with too many articles,” according to a report by GGRAsia.  The LAB added that the contractor in charge of the project was penalized over the incident, but didn’t specify what type of penalties had been applied. 

As a result of the accident and the subsequent investigation, work on Phase 3 had to be temporarily stopped once again, and was finally allowed to resume on April 29 after the contractor’s business and safety records were scrutinized.  As a result, optimistic plans to have the property’s additions open by early next year has waned.  The project was first expected to open sometime this year before being pushed back to sometime in early 2021.  However, given the current situation, that goal may be a little unrealistic, and analysts predict that Phase 3 won’t be able to wrap up until sometime toward the middle of the year, if not later. 

More and more, legislators across the U.S. are coming to the realization that online gaming proponents have been right all along. Legalizing online gambling and gaming activities is a sure-fire way to keep revenues flowing under virtually any circumstance, such as the massive hit received by the coronavirus pandemic. Those states that had the foresight to legalize online gaming and virtual sportsbooks when they approved expanded gambling operations have been able to keep at least some revenue coming in, and Maine is now ready to, slowly, join the party. The Maine Gambling Control Board approved a measure this past Tuesday that will allow state residents to place wagers on horseraces through online sportsbooks. 

Before the new rules were implemented, only in-person wagers on horse races were allowed at one of the state’s racetracks or off-track gambling venues. Harness racing is still on hold because of the health pandemic but, once it makes a return, state residents will be able to break out their smartphone or tablet, or even a computer, and place their bets. The first to go live with the option is Hollywood Casino Hotel & Raceway, a Penn National gambling property that offers the Hollywood Races app. 

Christopher McErlean, Vice President of Racing for Penn National Gaming Inc, said in a statement, “We are excited to bring this form of gaming to Maine. This is a tried and tested use of technology for more people to get excited about the sport of horse racing, any time of day, any day of the year, and allows Mainers to enjoy races taking places across the world from the comfort of their own home.”

Maine has always had a difficult time believing expanded gambling options were necessary. As far back as seven years ago, opponents tried to stop the state from approving new gaming expansion laws, arguing that they would cause the state’s economy to contract. They were obviously proven wrong, and it wasn’t until the coronavirus pandemic that the state took a revenue hit from the lack of gaming. When sports gambling came up for discussion after the reversal of PASPA, Governor Janet Mills rejected legislation, essentially stating that it would lead to improper types of wagers – including on spelling bees. Because, of course, legal sports gambling states are running a lot of spelling bee odds. 

Iconic videogame collaboration joins supplier’s branded hall of fame

NetEnt has transformed one of the best-selling arcade games of all time for online slot fans with the release of Street Fighter II: The World Warrior SlotTM, featuring a cast of eight original characters ready for combat.

In a new spin on the classic video game from CapcomTM, the new 5-reel, 5-row Cluster Pays video slot emulates the battle mechanics of the original title by pitting the player’s chosen character against opponents and letting the reels decide which fighter is victorious.

Winning combinations determine how much damage a character receives, and each battle continues until one fighter runs out of health points. Losing players can then redeem their honour – and win some cash – in the Car Smash Bonus Game, whilst those who win trigger the multi-level Beat the Bosses Free Spins and take on four recognisable bosses with a Multiplier increasing at every level.

Asia’s leading B2B gaming industry media brand Inside Asian Gaming and European iGaming events leader SiGMA Group are pleased to announce a special joint streaming digital presentation exploring iGaming in Asia, to be held on Tuesday 26 May 2020 at 5pm Macau time (11am Malta time).

The free event, titled “What Asia’s land-based casinos can learn from Europe’s iGaming boom,” will explore the establishment of the iGaming industry in Europe, how it has married together with land-based casinos, what Asia can learn from the European iGaming experience and what opportunities exist for land-based and online gaming to come together in Asia in response to COVID-19.

Although utilizing IAG’s normally members-only GAME solutions platform, this special streaming presentation will be open and free to all registrants.

Register for free: https://us02web.zoom.us/meeting/register/tZIsd–grzoqH9LZNnRdEVLAKCZn1DtU-b-J