Tag Archives: Czech Republic

SynotTip nets title sponsorship of Latvia Higher League

Czech Republic gambling and lottery operator Synot Group has confirmed that subsidiary SynotTip will become the title sponsor of Latvian football’s top division ‘The Latvia Higher League’ (Virsliga). Synot Group secures the naming right to the league for three consecutive seasons, in which it will promote subsidiary sports betting brand SynotTip. The operator informed that media that it was pleased …

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Polish tax charges see Fortuna Entertainment post flat 2015

Publishing its unaudited full-year results for 2015 (period ending 31 December), Eastern European gambling operator Fortuna Entertainment (Fortuna) has reported that Polish VAT charges have impacted company performance as Fortuna posted a flat adjusted EBITDA of €27 million (2014: €27.2 million). Despite recording no EBITDA growth, Fortuna governance detailed positives as the company saw top-line revenue and gross win growth …

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Synot withdraws from Czech sports funding following new tax hikes

Synot International, the Czech Republic’s biggest gambling operator has announced that it will scrap all its sports sponsorships in protest of ‘unfair’ tax hikes on its services. Releasing a statement on Thursday, the licensed operator detailed that it had not been advised on the government’s sudden tax rises to its core product channels. Synot operations will be deeply impacted by …

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Casinos Austria shareholders planning legal action

Reuters is reporting that a group of Czech investors is to take action against Austria’s Finance Ministry after failing to increase its ownership of gaming operator Casinos Austria. The investors already own 11.3% through a joint venture called Austrian Gaming Holding (AGH) and believed that this shareholding provided them with first refusal on any future sale of stock. AGH is …

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Fortuna Entertainment re-hires Michal Hanák as Chief of Sports Betting

Eastern European sports betting and gambling operator Fortuna Entertainment has announced that it has re-hired Michal Hanák as its Chief Sports Betting Officer, as the operator looks to strengthen its presence and services within core markets. Hanák re-joins Fortuna Entertainment having served as Head of Trading and as a member of the operator’s board from 2005-2012. From 2012-2015 Hanák would …

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Synot Tip agrees shirt sponsorship with AC Sparta Prague

Czech Licensed gambling/lottery operator Synot Group sports betting subsidiary Synot Tip has announced that it has agreed terms with AC Sparta Prague to become its official shirt sponsor for 2 seasons (2015/16 & 2016/17 campaigns). Sparta Prague, the Czech Republic’s best followed football club will promote Synot Tip services throughout its 22,000 Generali Arena during domestic and European football match …

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Czech Rep FA extends integrity partnership with Sportradar

The Czech Republic’s FA (FACR) has extended its existing data and integrity partnership with Sportradar for a further four years, taking the relationship on until the summer of 2019. Under the agreement signed today, Sportradar’s market-leading Fraud Detection System will monitor all the senior and U21s men’s and women’s national team fixtures, all the U19s league matches, the women’s first …

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Czech Finance Minister looks to double taxes by 2016

Czech Republic Finance Minister Andrej Babis wants to double taxes on betting operators from 2016. At present operators Czech licensed betting operators pay 20% taxes on their gross win earnings from gambling, plus a 19% corporate tax rate. Babis will look to increase taxes to 30-40% from 2016, as the Czech government looks to overhaul its gambling sector. The finance …

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