Submission of Draft Law 2285-d to Zelensky for Signature and New Gambling Regulator in Bulgaria: Weekly Gambling News
The bill on the legalization of gambling business has been forwarded to the President to be signed in Ukraine and deputies have supported the introduction of amendments to the local gambling legislation in Bulgaria. Kindred Group operator has reported the increase in gambling revenue and the growth in expenditures on gambling entertainment among population of the Czech Republic has been observed. Read about these and other news of the gambling market in the digest.
Bill on legalization of gambling business was sent to the Ukrainian President for signature
The Chairman of the Verkhovna Rada Dmytro Razumkov signed the draft law 2285-d about legalization of gambling business, which was adopted at second reading on July 14, 2020, according to the publication on the governmental website.
On July 28, the document was sent to the President Volodymyr Zelensky for signature.
The law that will legalize casinos, betting, slot machine halls, online poker, and lotteries, will come into effect the next day after the official publication.
Amendments to the gambling law were supported in Bulgaria
Online magazine Login Casino reported that deputies of the National Assembly of Bulgaria passed the bill about the introduction of changes to the law about gambling.
The approved amendments allow dismissing and liquidating the State Commission on Gambling that acted as industry regulator within three months. The authority of this agency will be delegated to the National Revenue Agency.
Another amendment voted by deputies stipulates the distribution of gambling tax revenue. Now 10% of revenue that gambling companies bring to the country will be directed to finance the cultural sector.
A plan to counteract fraud in sports betting was approved in Spain
Spain’s National Commission to Combat the Manipulation of Sports Competitions and Betting Fraud (CONFAD) enacted the roadmap intended to fight against match fixing and cheating in the field of sportsbook.
The document stipulates measures that have to be realized in 2020-2021.
Among other things, the action plan aims to increase awareness about fraud in sports and inform industry representatives about the legal framework related to illegal actions in sports betting.
The total sum of bets placed in the Czech Republic increased last year
The annual report on gambling in the Czech Republic shows that expenditures of the Czechs on games of chance amounted to 389 billion CZK in 2019. This is a 55% increase as compared to the previous year. At the same time, citizens received over 353 billion CZK in winnings according to Novinky.cz.
Czech gambling operators receive the most of revenue from casinos, which account for over 40% of the gambling market in the country.
The report also informs about the number of Czechs that suffer from problem gambling. Overall, almost 144 thousand people are addicted to gambling in the Czech Republic.
Revenue of Kindred Group grew by 8% in 2020
From January to June of 2020, the revenue of European online gambling operator Kindred Group reached 484.8 million pounds, exceeding the figure of the same period in 2019 by 8%. The company’s quarterly report shows that the after-tax income amounted to 27.6 million pounds, which is 1% more than the year before.
From April to June only, the gross gambling revenue of Kindred Group reached 235.1 million pounds (plus 4% as compared to the second quarter of 2019). However, sports betting revenue decreased during that period. The reason is that sports events were delayed in different countries of the world due to the coronavirus pandemic. At the same time, online casino revenue grew by 42% as compared to the second quarter of 2019 and reached 150.4 million pounds.
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