PKF successfully participated and co-organised a specialised conference, last month, to deal with issues effecting the international gaming scene at the historical setting of Fitzpatrick Castle in Dublin.
This follows another successful conference on the possible effects resulting from a deregulation of the German market, held in Munich. For the Dublin conference, PKF co-partnered with the IGCE to discuss these topics and to indirectly explain if and how the 120 Malta betting sites need to forge ahead under the shadow cast by a US prohibition.
There is so much at stake and critics lament that after the US prohibition Act, online gambling industry is facing one of its hardest challenges. This will also have an effect on Malta, which has amassed more online and gaming companies than any other Western European jurisdiction.
The 2007 Budget saw a handsome projection that over Lm18.5 million in tax revenue will be collected from the gaming sector. On its own, this amount almost matches the direct revenue registered from the tourism sector. Unofficial reports show that over 120 companies are licensed or are about to comply with the legislation.
There is a backlog of another 50 applications to be processed. Even though there is low budget funding and the local industry is in its infancy, it already generates upwards of €2 billion in turnover exclusively generated by non-resident punters. Last year it contributed Lm2 million in taxes and generated 500 new high paid jobs.
Delegates at the IGCE conference had the possibility to discuss the Italian government's decision to stop the blockage of all foreign betting sites which were so far declared illegal. Starting from next year, any Italian citizen will be able to enter the European market provided the site is fully licensed and regulated by AAMS.
As there were more questions and answers at the IGCE, PKF has decided to team up with Bullet Business to run another two-day legal gaming conference at the Royal Garden Hotel in London next year. Delegates at the London conference are being offered a highly participative programme, focusing on viable solutions on how to tackle the real issues.
The conference takes place on January 22 and 23 and early registrations qualify for significant discounts. It aims to equip delegates with a comprehensive legal understanding of the challenges that threaten the gaming industry. For more details visit
www.maltaconference.com
Article with thanks from
www.timesofmalta.com
