Online Poker Slowed By Red Tape and Taxes

Published Friday, November 07, 2014 -
Online Poker Slowed By Red Tape and Taxes

888 Holdings has been in the online casino business for some time now with Casino-on-Net, 888 Holding’s first online casino, launching in May of 1997, and re-branded in 2010 as 888 Casino in order to unify its identity with other 888 Holdings offerings. In March of 2013, the Nevada Gaming Commission gave 888 a license to operate as an Interactive Gaming Service Provider making 888 Holdings to be the first company to provide online gambling in a US jurisdiction.

The company has had a good track record when it comes to being an experienced and business savvy firm that has its finger on the pulse of the online gambling industry globally. Brian Mattingley, the current CEO of 888 Holdings, voiced his opinion on the online poker situation in Europe. The seasoned executive thinks that the regulatory and tax platforms are too strident to allow for the development of internet poker in the jurisdiction. Player pools are small because of the jurisdictional biases again creating a diminished interest.   

Mattingley explains that the fractured online poker industry is slowing progress made in the game of poker and that the decline in participation in Europe is having a negative impact on the global online poker industry. The cost for companies offering online poker is becoming prohibitive due to the constant repeals and amendments to the taxes and licenses. The jurisdictions that delay regulation by law also cause consternation and legal problems for firms that want to operate within the laws of the land but already have significant investment in the grey areas. The recent new rules for online gambling operators in the United Kingdom will see many operators already regulated by Gibraltar and other U.K. offshore jurisdictions protesting the new tax regime with the argument that the point-of-consumption tax of 15 percent will hurt the consumer and the industry.

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