This might be a bad start for the year ahead for online casino operators across Poland after the authorities responsible for enacting gambling legislation decided to come up with a heavy tax.
The tax imposed on all online gaming companies who Polish authority say have already made real money online casino gambling sites a major way of earning a living have fled the scene.
In just below seven days, reputable gaming companies have decided to leave the business for other investors who will be willing to heed what the gaming commission imposes. 888 Holdings Announces New Profits, Pays Dividends For 5 Consecutive Years.
William Hill, Pinnacle Sports, Mr. Green, Bet356, and Betfair, are among some of the gaming companies that have confirmed that it is pointless to continue serving the loyal and innocent Polish clients.
Although the bill that could finally be used to impose the new tax regime had a nice authorship, implementation and its designing was faulty. That at least is according to some of the gaming operators who decided to speak their mind after the business environment seemed sour.
Many people who include operators, market observers, gamblers and regular but development-oriented people say that many media outlets are using the term ‘mass protest’ without addressing the real thing.
“It is not mass protest as if operators have something to change or gain in the end. The right terminology is ‘mass exodus’ because that is the only thing they can legally do for now,” said one market observer.
The Polish gaming authority this week said it is going to maintain its firm stance on the new law, which requires all online gaming companies to pay a tax of 12% besides other stiff gambling laws.
To this, casino operators assert that it will never be easy to anyone who understands the gaming industry to be able to meet the 12%. Because of that, they do not have any option but leave to invest elsewhere.
On any usual online gambling campaign, the amount of tax imposed on a single gaming facility entirely depends on what the facility collects at the end of all gambling operations such as paying won bets, and other related expenditures. This procedure is usually referred to as Gross Gambling Revenue.
With the authority imposing a twelve percent tax, it means that whether a gaming company collects much or less, it has to pay the fixed and decided tax. Click here to read how GameCo Skill Gaming Seeks Funding For Its Expansion
Incidentally, operators who would wish to go on with online gambling business without adhering to the new Polish laws will face stiff action among them blocking of ISP and even worse, they will be blacklisted.
It was after the operators contemplated on these stiff measures that they decided to migrate.