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Industry
May 10, 2024
Brazil Implements New 15% Player Winnings Tax
Brazil’s Federal Revenue Service has introduced new guidelines for taxing net prizes obtained from fixed-odds lottery bets, subjecting them to a Personal Income Tax (IRPF) rate of 15%. This development marks another step forward in the country’s efforts to finalize its updated gambling legislation, ushering in a safe and sustainable market that will benefit all […]
Industry
May 9, 2024
Tory MP Davies Accepts £500-an-Hour Consultant Role with Merkur
It is not uncommon for UK MPs to accept consultancy roles with licensed gambling operators in the country. Similar to other income opportunities, as well as benefits such as gifts and hospitality from UK sources, such earnings are registered with the Register of Members’ Financial Interests. One such registered earning concerning the Tory MP Philip […]
Industry
May 9, 2024
Man Who Fueled Gambling Addiction with Money from Fraud Goes to Prison
Problem gambling can have dire consequences to the lives of the people addicted to the activity, their families and loved ones. People affected by at-risk or compulsive gambling may resort to unlawful activities such as scams, fraud and even violent crimes such as robberies. Labeled as vulnerable individuals, such people are also at risk of […]
Industry
May 9, 2024
Reward of $1M Offered in Alleged Drink Spiking Incident at Vegas Casino
Dwight Manley, a prominent high roller and real estate executive from California, who also used to be an agent for Denis Rodman back in the 90s, filed a lawsuit against the leading gaming and entertainment company, MGM Resorts. The lawsuit, dating back to November 2022, came after an alleged incident that has taken place at […]
Industry
May 9, 2024
Hackers behind MGM Attack Launch Cyberattack on Financial Sector
In the second half of last year, two leading betting and gaming operators, Caesars Entertainment and MGM Resorts International, fell victim to separate cyberattacks. While Caesars was able to resolve the situation rather quickly, the impact on MGM was more severe as it took the company days to resume normal operations. Not unexpectedly, the cybersecurity […]
Industry
May 8, 2024
Wynn Releases New Concept Art of Its New Al Marjan Island Resort
Leading casino operator Wynn Resorts has unveiled new images of its highly anticipated luxury resort, Wynn Al Marjan Island, currently under construction in Ras Al Khaimah, United Arab Emirates. Set to be the company’s first beachfront resort, Wynn Al Marjan Island is poised to become a landmark destination in the Middle East North Africa (MENA) […]
Industry
May 8, 2024
New Study Explores the Benefits of Sports Betting Taxation
Many US states are reaping the rewards of legalized sports gambling, with tax revenues soaring to nearly $2.5 billion in 2023, according to a recent analysis conducted by online lending marketplace LendingTree. This sum represents a substantial year-over-year increase of 34.7%, demonstrating the growing popularity and profitability of the gambling sector nationwide. Sports Betting Tax […]
Industry
May 8, 2024
DraftKings Casino Handed Millions in Jackpots in April
The DraftKings Network has published information about the biggest DraftKings Casino jackpot winners in April. By the end of the month, the operator had handed a total of 18 jackpots of over $100,000. The jackpots were won by people in a variety of states engaging in different forms of gambling, such as virtual tables and […]
Industry
May 8, 2024
Defense Attorney Asks for Intensive Corrections Order in Betting Fraud Case
It is not uncommon for individuals affected by problem gambling to engage in illicit activities, including fraud, theft or in some cases even violent crimes. Driven by the urge to gamble more and chasing losses, problem gamblers often get themselves deeper into trouble by piling up debt or having issues with the law. In one […]
Industry
May 8, 2024
Brazil Unveils New Regulations Ahead of Gambling Industry Launch
Brazil’s Ministry of Finance has unveiled updated regulations ahead of the anticipated launch of the country’s sports betting market. The new ordinance, issued by the Betting and Prizes Secretariat and published in the Federal Official Gazette, introduces vital provisions ensuring the integrity and security of the industry amidst new industry trends and rising global challenges. […]
