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Sahara fundraisers set off this week

SBC News Sahara fundraisers set off this week

A team of 21 volunteers, the majority from bookmaking companies, will trek the Sahara Desert this week to raise funds for the UK’s leading problem gambling treatment charity. The team will be walking for 5 days from the “Door of the Desert” at Achbarou to Anoun El Fraolia, crossing 100 kilometres of dunes and open desert. The volunteers aim to …

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XLMedia debuts trading on London AIM

SBC News XLMedia debuts trading on London AIM

Israeli based igaming marketing services company XL Media has begun trading on the London Alternative Investment Market (AIM) following an oversubscribed placing which raised $69.5m (£41.8m). The company commented that its initial placing had been significantly oversubscribed, XL Media who specialize in igaming player acquisition debut today on the London AIM with a share price listing of 0.49 pence per share. …

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Associations formalise social responsibility work with new group

SBC News Associations formalise social responsibility work with new group

The UK’s main gambling trade associations have joined forces to establish the Industry Group for Responsible Gambling (IGRG) – a new body that formalises the responsible gambling work that the associations carry out.  The IGRG provides a structure to better promote socially responsible gambling in the British gambling market. Building on existing relationships and work streams, it will also provide …

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Richard Glynn Earns 85% pay hike despite Ladbrokes downturn

SBC News Richard Glynn Earns 85% pay hike despite Ladbrokes downturn

Richard Glynn CEO of troubled gambling operator -Ladbrokes PLC,  has been awarded a  staggering 85% total remuneration rise as the firm’s operating profits plunged by a reported 33%.The news comes as a surprise to the gambling and sports betting industry, as Glynn’s position as the head of Ladbrokes operations, has come into question with many industry commentators forecasting the CEO’s …

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ASA warns Paddy Power over future ad campaigns

SBC News ASA warns Paddy Power over future ad campaigns

Paddy Power has been warned over its future conduct by the Advertising Standards Authority (ASA) following its investigation into the bookmaker’s newspaper advert in The Sun on Sunday around the Oscar Pistorius trial. The advert, which offered ‘money back if he walks’, promoted a market on whether the South African Olympian would be found guilty or not of the accusation …

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Tax increase hits bookmaker shares

SBC News Tax increase hits bookmaker shares

Shares in Ladbrokes fell by almost 12 percent to 139.8p yesterday, while market leader William Hill was down 7 percent at 350.1p, as the market responded to Chancellor George Osborne’s latest tax raid on the betting industry. The Treasury increased the rate of Machine Games Duty (MGD) on games with a stake higher than £5 from 20% to 25%, with …

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Gambling tax more complicated than ever

SBC News Gambling tax more complicated than ever

Barney Horn, indirect tax partner in the Deloitte betting and gaming group, has said that the Treasury has made gambling taxation more complicated than ever despite a trend for simplification. He explained: “Overall, while there has been much talk of simplifying taxes, the position has become increasingly complex with rates for seemingly similar gambling experiences being taxed at different rates. …

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RGA ire at Treasury ignorance on remote tax

SBC News RGA ire at Treasury ignorance on remote tax

The Remote Gambling Association (RGA) has restated its view that (i) a rate of 15% for the new point of consumption tax is too high; and (ii) the regime still does not appear to make allowances for bonuses and incentives. This heightens the risk that British licensees will lose significant market share to black market operators and that this will …

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