LSE speeds up trading

first_img THE LONDON Stock Exchange has transferred its main trading platform to a faster system in an effort to gain ground on technologically superior competitors.The bourse, which has been hit by several embarrassing technology glitches in the past, said the transition to its new ultra-low latency trading platform – Millennium Exchange – went smoothly.It is replacing its TradElect system with one supplied by MilleniumIT, the Sri Lankan firm it bought for $30m (£18.7m) in 2009.Duncan Higgins, head of electronic sales at Investment Technology group said: “The opportunity is that they can step forward and be quicker than they were but also to be more cost efficient.The new Linux-based operating system will slash trading speeds to less than a millisecond. KCS-content Read This Next’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap4 ideal Zion Williamson trade scenarios from the New Orleans PelicansSportsnautRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapRick Leventhal to Exit Fox News Just as His Wife Kelly Leaves ‘RealThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’In the Heights’ Underwhelms at Box Office With $11.4 Million DebutThe WrapJason Whitlock, Former ESPN and Fox Sports Reporter, Resurfaces at BlazeThe WrapFox News’ Mark Levin Says Capitol Riot Suspects ‘Would Be Treated Better’The Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap whatsapp Show Comments ▼ whatsapp Share LSE speeds up trading Tags: NULL Monday 14 February 2011 9:36 pmlast_img read more

HONDA RECALLS 700,000 VEHICLES

first_img HONDA is recalling nearly 700,000 Fit, Freed and City compact cars around the world because of a defective spring part that may cause the engine to stall. No accidents have been reported related to the problem. The company also said it may buy back more shares by the end of the business year next month to meet its goal of reaching a payout ratio of 30 per cent HONDA RECALLS 700,000 VEHICLES whatsapp Tags: NULL whatsapp Thursday 17 February 2011 7:38 pm Sharecenter_img More From Our Partners LA news reporter doesn’t seem to recognize actor Mark Currythegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”WanderoamBetterBe20 Stunning Female AthletesBetterBe KCS-content Show Comments ▼last_img read more

The Pru tops market with £1.9bn profit

first_img More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com Share Show Comments ▼ KCS-content Wednesday 9 March 2011 8:30 pm The Pru tops market with £1.9bn profit whatsappcenter_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayBetterBe20 Stunning Female AthletesBetterBeautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldDrivepedia20 Of The Most Underrated Vintage CarsDrivepedia whatsapp PRUDENTIAL chief executive Tidjane Thiam answered critics and reassured investors with full-year results ahead of expectations yesterday.The Pru’s IFRS operating profit was up 24 per cent to £1.94bn, up from £1.56bn in 2009 and 12 per cent higher than consensus forecasts of £1.6bn. The UK’s biggest insurer also reached out to investors angered by Thiam’s failed $35.5bn (£22bn) bid for Asian insurer AIA by rebasing its dividend and increasing its full-year payout 20 per cent to 23.85p.Thiam said the results were due to a “disciplined approach to capital allocation, proactive risk management and focus on profitability.”Sales by annual premium equivalent increased 23 per cent to £3.5bn from £2.84bn in 2009, when they grew at just one per cent. Its Asian businesses, where sales grew 24 per cent to £1.5bn, have been growing at record levels for the past six quarters and remitted £233m cash to the group in 2010, it said. Thiam said the strategy was to accelerate growth in the region further. “We estimate the size of the Asian middle class at 1.9bn, so we consider that we are only scratching the surface and have a lot of room to grow,” he said. Prudential’s US life business Jackson recorded the highest profit in its history, at £1.2bn, a 28 per cent increase on 2009. IFRS operating profit in the UK was up 11 per cent at £673m. Its shares closed 4.9 per cent higher at 749p. Tags: NULLlast_img read more

CITY VIEWS: WILL HMV SURVIVE

first_img Share KCS-content whatsapp Wednesday 16 March 2011 8:54 pm Tags: NULL Show Comments ▼ whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap CITY VIEWS: WILL HMV SURVIVE Save or Borrow peer to peer at RateSetter.comwww.RateSetter.com Customer Phoneline: 08442490115ADRIAN PEARSON | RBS“It’ll be difficult for HMV to succeed because the record-owning generation and the world have moved on to digital.”MIKE HARMER | FWD MARKETING“Yes, because HMV has good management and it’s a good and strong brand.”CHRIS VOELKER | CLYDE & CO“HMV can’t save itself now because its downloads won’t be able to compete against iTunes.” last_img read more

Kazakhmys boosts profit

first_img Kazakhmys, the world’s 10th largest copper miner, said yesterday its full-year profit jumped 74 per cent thanks to higher metal prices.Earnings before interest, tax, depreciation and amortisation, excluding special items, rose to $2.84bn (£1.8bn). The figure included a $903m contribution from its 26 per cent stake in Eurasian Natural Resources Corporation (ENRC).Earlier this month, Kazakhmys chief executive Oleg Novachuk said he was exploring “strategic options” for the stake in ENRC. At yesterday’s closing price, the stake is worth about £3.1bn.The biggest one-off item in the 2010 results was $130m to fund major social projects in Kazakhstan.Prices for benchmark London Metal Exchange copper rose 31 per cent last year and hit a record high last month, driven partly by rising demand from markets such as China.Kazakhmys said cost pressures increased over 2010, as they have for many miners, although its copper production costs remained globally competitive at 89 cents per pound. Meanwhile, the miner announced that Peter Hickson will retire from the board and will be replaced by a new independent non-executive director in due course. David Munro will also be stepping down from his position as development director, although he will continue to serve as a part-time executive with Kazakhmys. Eduard Ogay, chief executive of subsidiary Kazakhmys Corporation, will be appointed to the board. Ogay joined the company in 2001.The final dividend, which had already been declared, was 16 cents a share.?The full year-dividend is up 144 per cent on 2009 to 22 cents. Shares in the firm closed 0.1 per cent higher yesterday at 1,426p. whatsapp Tags: NULL Kazakhmys boosts profit Tuesday 29 March 2011 8:42 pm whatsappcenter_img KCS-content Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Show Comments ▼ Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndoDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndo Sharelast_img read more

Cranswick sees trading in line

first_img Cranswick sees trading in line by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com whatsapp Share PORK supplier Cranswick said results for the year will be in line with expectations. Underlying like-for-like sales for the year to 31 March 2011 increased by four per cent while volumes during the period were up six per cent. Underlying sales in the fourth-quarter were in line with those of the previous year. However the company, which supplies fresh pork and gourmet sausages to Britain’s food retailing and manufacturing sectors, warned of “the difficulties facing the UK consumer and the competitive UK market.” Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proofcenter_img KCS-content Show Comments ▼ whatsapp Monday 4 April 2011 7:43 pm Tags: NULLlast_img read more

Elliott trades blows with Nat Express

first_img Elliott trades blows with Nat Express Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastBrake For ItThe Most Worthless Cars Ever MadeBrake For ItSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farmthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition whatsapp NATIONAL Express and its activist investor Elliott Advisors exchanged further salvos yesterday ahead of its annual general meeting on 10 May.National Express’s chairman John Devaney hit back at Elliott’s proposal to add three directors to the board, telling shareholders it hired search firms to find new candidates “some weeks ago”.Elliott said the board had failed to find new directors fast enough. “Despite Elliott’s repeated engagement with the company, the board declined to put forward a definitive timescale in which new directors would be appointed,” it said.Shareholders privately told City A.M. yesterday that they were unhappy at the developments. “We see this as an unwelcome distraction,” one said. Monday 4 April 2011 8:29 pm Sharecenter_img whatsapp Show Comments ▼ KCS-content Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Prooflast_img read more

GambleAware and Citizens Advice to tackle gambling harm

first_img The £1.5m initiative will focus on nine regions across England and Wales Regions: UK & Ireland GambleAware and Citizens Advice to tackle gambling harm GambleAware and Citizens Advice have committed £1.5m (€1.7m/$2m) to a joint initiative focused on educating debt advisers in the UK about gambling-related harm. The two-year project will be delivered across nine regions in England and Wales, with the aim of training debt advisers to identify and offer support to people who may be suffering gambling problems. GambleAware hopes to establish a network of regional support hubs as part of the initiative, with each facility able deliver training to “front-line” staff that are in other lines of work so that they can also recognise problem gambling. The partnership with Citizens Advices marks the latest step in GambleAware’s ongoing effort to tackle problem gambling, after the charity last month threw its support behind new Gambling Commission-backed research into the issue. GambleAware’s efforts are being recognised and it is gaining a greater presence in the UK, boosted by a spike in voluntary industry donations over the past year. Dr Jane Rigbye, director of education at GambleAware, said: “The debt advice workforce has an enormous role to play in supporting and reducing the likelihood of people experiencing gambling-related harm, as do many professions who come into contact with the general public on a daily basis. “Encouraging and enabling staff in all public-facing settings to be aware of the possibility that the presenting problems could be related to gambling is key in helping to tackle this issue.” Gillian Guy, chief executive of Citizens Advice, also spoke positively about the new initiative, saying its staff will be able to make a “real difference” to people struggling with gambling. Guy added: “Gambling can have life-changing effects, not just on the individual but also their families and friends. People seek our help to deal with the practical problems that come out of this – including increased debt and relationship breakdown.” The partnership comes following a six-year trial that GambleAware successfully ran with the Newport Citizens Advice regional office. Bingo AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Casino & games People Sports betting Strategy Bingo Poker Slots Tags: Card Rooms and Poker Mobile Online Gambling OTB and Betting Shops Slot Machines 24th September 2018 | By contenteditor Email Address Subscribe to the iGaming newsletterlast_img read more

iGB Diary: Brexit, exit, axit, clerics, taxit

first_img Topics: iGB Diary Subscribe to the iGaming newsletter 14th December 2018 | By Hannah Gannage-Stewart iGB Diary: Brexit, exit, axit, clerics, taxit We talk Brexit shambles, Rich Alati’s bet, the ad ban, devine retribution and GamBan iGB Diarycenter_img AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Online Gambling Merry Friday igamers! In today’s missive we add to the collective eyeroll over the latest Brexit shambles, follow up on Rich Alati’s month-long solitary confinement bet, revisit the TV ad ban, follow a couple of nun’s on the run and review GamBan’s charging policy. Enjoy!Brexit: when the fun stops, backstop As you know the Diary likes to give its opinion on most things. Ok, it has to have a link to gambling, even if it’s more tenuous than Theresa May’s grip on her job. Why mention the PM? As you also know, Brexit – other countries have better names for it: clusterbuhach (Scotland), tohuwabohu (Germany) or for the original, ENGLISH way to say it: clusterf*** (or s***show, take your pick); is eating up the UK and will spit it out in God knows what form, when she returns from Brussels with whatever ‘legally binding declaration’ she can get on the Irish backstop. So when we read the Guardian’s write up of her postponement of the meaningful vote on the withdrawal agreement on Monday we had to smile, especially the last paragraph: “There was only one explanation that now made sense. The prime minister had taken a huge bet with Paddy Power on her still being in a job by Christmas. She just hadn’t read the small print. When the fun stops, stop.” As the man says Treeza: ‘when the fun stops, stop’.He’s out Talking of exits, last week the diary reported an unusual prop bet between poker pros Rich Alati and Rory Young. Alati just spent 20 days in an unlit bathroom with nothing for entertainment except paddleball and a Rubik’s cube – an infuriatingly illogical choice of toy to take into a lightless room! Back in November the pair wagered $100,000 on whether or not Alati could survive 30 days in isolation. However this week he negotiated his exit after 20, taking away $62,400 for his troubles. Alati is reported to have left his bathroom confinement ‘seemingly in good spirits’.With friends like these… The fact that the UK betting industry has agreed to the whistle to whistle ban on TV advertising is an admirable, and arguably necessary, step. Yet the move that may lead to the end of Ray Winstone’s disembodied head looming out of TV screens has quickly been followed by calls for further concessions. It’s clear the sector doesn’t have many friends these days. This made it all the more alarming for the Diary to hear one frustrated operator accusing a high-profile betting body of “running for the hills” whenever the going gets tough earlier this week. As the old cliché goes, with friends like these, who needs enemies?Mercy of the law? The two nuns accused of embezzling half a million dollars from a school to gamble in Vegas received the bad news from the Archdiocese of Los Angeles this week that this matter would no longer be handled internally and they would be forced to take “full responsibility for the choices they made and [be] subject to the law”.  Ex-principal Sister Kreuper and teacher Sister Chang, both recently retired, allegedly pilfered and spent the ill-gotten gains over a period of ten years, presumably making detection more difficult by the school or the casinos in Vegas (the Diary can’t help wondering whether they were wearing their habits at the time or gambling incognito). However, one parent at the school was heard telling a reporter on Radio 4 this week that they thought it strange that Kreuper and Change drove such flashy cars. A spokesman for the church said they intended to pay all the money back once they have worked out how much had gone missing. They also didn’t rule out having a whip round among the congregation to pay for their legal costs. If only the rest of us normals had that to fall back on in times like these…Profiting from peoples’ misery One of the most frequent accusations levelled against the industry is that it is profiting from peoples’ misery. The pressure group Fairer Gambling, the artist formerly known as the Campaign for…, is never one to pass up the opportunity to make this claim. So it was a bit of a surprise to see one of that body’s leading lights cc’ed into an email with a GamBan domain. GamBan, of course, being one of the latest gaming site-blocking solutions to hit the market in recent times. Kindred currently offer customers licences free of charge, but those who don’t have a Kindred account must fork out an annual fee of £9.99. Problem gambling figures’ upward trajectory suggests that more people will turn to technology to limit their gambling and The Diary is totally supportive of anything that helps make igaming safer for customers. But to charge for these solutions… isn’t that… profiting from peoples’ misery…?That’s all for this week folks – have an amazing weekend! Email Addresslast_img read more

Italy issues 70 new igaming licences

first_img Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Italy issues 70 new igaming licences Regions: Europe Southern Europe Italy Italian gaming regulator Agenzia delle Dogane e dei Monopoli (ADM) has finally completed the process to award a tranche of new online gaming licences to operators, with 70 companies approved following a number of delays to the process.Of the total number, 66 have been granted full permission to operate in the market. The final four, Scommettendo, Spati, Sogno di Tolosa and Universal Solutions, have been awarded licences with additional – unspecified conditions – attached.The other 66 licensees includes a number of high profile international operators including The Stars Group, William Hill, Paddy Power Betfair, GVC and bet365, local land-based and online businesses, and new Scandinavian entrants such as Casumo and Videoslots.Each licence required operators to pay a fee of €200,000 (£175,535/$226,379), with companies also required to have an existing Italian or European Union gaming licence, with turnover of at least €1.5m in the past two years. All licences are valid until December 31, 2022.However, the final total of 70 licences falls far below the 120 licences that the Italian government had made available. It also means that ten companies either had their applications rejected or pulled out of the process, after ADM revealed in April last year that it had received 80 applications in total.Originally scheduled to open in September 2017, the application window finally opened in January 2018, with ADM then saying in October last year that it expected to finalise the process in the coming weeks.It was carried out against a backdrop of wholesale change, with the government introducing its so-called Dignity Decree, effectively banning all gambling advertising from January 1, 2019, in July 2018.
This was followed by a tax hike in December last year, also effective from January 1. This sees the tax on online casino and bingo increased to 25% of gross gaming revenue, with fixed odds betting tax raised to 24% of GGR. Land-based sports betting operators are now taxed at 22% of GGR, while tax on virtual sports (22%), video lottery terminals (6.75%) and amusement with prizes (18.85%) were also increased.Despite these changes the market continues to perform well. iGamingBusiness.com’s Italy dashboard, compiled with figures provided by Ficom Leisure, revealed that regulated igaming revenue rose 16.8% in 2018 to €1.53bn. The majority of this revenue (46.4%) came from online betting, followed by casino, which accounted for 41.9% of the total. 13th February 2019 | By contenteditor Topics: Casino & games Legal & compliance Sports betting Slots Tags: Mobile Online Gambling Slot Machines Italian gaming regulator Agenzia delle Dogane e dei Monopoli (ADM) has finally completed the process to award a tranche of new online gaming licences to operators, with 70 companies approved following a number of delays to the process. Casino & games Email Addresslast_img read more