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ONLINE SPORTSBETTING OPERATOR REACTS TO REGULATORY CHANGES IN POLAND
22nd February, 2017 at 07:52:44
Pinnacle set to exit in April, when the new Gambling Act in Poland is implemented.
High tax costs and a monopolistic state-owned competition have apparently persuaded tier one online sports betting operator Pinnacle to announce that it is to exit the Polish market with effect from April 1 this year...the date on which Poland's contentious new Gambling Act is implemented.
The Act calls for a prohibitive tax rate of 12% based on turnover, and gives game range advantages to the state-owned Totalizator Sportowy, unless the European Commission steps in with a last-minute objection.
The legislation also carries punitive enforcement provisions that include heavy fines, black-listing and ISP-and-financial transaction blocking.
Market scuttlebutt is that Pinnacle is hoping to acquire a UK Gambling Commission
licence, which would enable it to return to the Northern Ireland and British market that it abandoned two years ago (see previous reports).
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