Paddy Power Closes Isle Of Man Office And Heads For Malta

PADDY POWER CLOSES ISLE OF MAN OFFICE AND HEADS FOR MALTA

23rd June, 2016 at 17:01:27
Source: http://www.azonlinecasinos.com

10 jobs impacted by gambling group's decision.

The Isle of Man Examiner newspaper reports that Paddy Power is to close its licensing office on the Isle of Man, where it has been active for some years, following the merger with Betfair (see previous reports).

The departure of the gambling group to new offices in Malta, where the activities of Betfair and Paddy Power will be combined, is likely to impact around 10 Isle of Man jobs, the newspaper claims.

DUTCH MP's PLAN TO USE ONLINE GAMBLING LICENCE REVENUE FOR SPORTS

Politicians in the VVD and PvdA parties want taxes gathered to be used to promote and aid Dutch sports.

With the legalisation of online gambling in the Netherlands still making its way sluggishly through the Dutch political system (see previous reports) two of the parliamentary parties are already planning on how to spend the tax money that will eventually be raised by the new system

MPs in the VVD and PvdA political parties want to use money earned from taxing online gambling to promote and aid sports, and there is a plan to present the proposal to parliament this week, according to a report from the ANP news agency.

The parties want the money to go to both professional athletes and amateurs so that sports clubs and the Olympic Games teams of the future can benefit, MP Jeroen van Wijngaarden told the agency.

Parliamentarians have already proposed a high 29% tax rate on a legalised online gambling market, and the MPs making the proposal are expecting to raise an additional Euro 8 to 10 million for sports from the tax revenues generated.

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