Archive for February, 2011
Joint venture between Betsson and Chinese state owned company
Swedish online gaming firm Betsson AB has entered into a business relationship with a local company in China. The deal will see a joint venture with an unidentified Chinese state-owned company in the sports lottery related industry.
China has the largest internet population in the world and is expected to issue internet lottery reseller licenses in the future.
“It is an important part of our strategy to be present through our B2B-unit in the world’s major markets” says Pontus Lindwall, CEO of Betsson AB. “Betsson has invested in Asia for more than three years since we believe that the Asian markets have a great potential in the long term. I believe that this joint venture will provide a solid platform for us in China and I am very excited over this opportunity”.
AAMS releases new italian online gambling regulations
The long anticipated Italian online gambling regulations were released Thursday by Italian regulator AAMS and authorise operators to offer cash poker and casino games and multi-level tournaments.
The new regulations, already authorised by the European Commission , include:
- Buy-in’s for skill games, including online poker can not exceed €250.
- The initial stake for participation in a poker or casino game session may not exceed €1000.
- A return-to-player of at least 90%.
- Cash poker and casino games will be subject to a 20% gross profits tax.
Industry analysts have estimated that the introduction of the additional genres could double revenues in the Italian market by 2012.
Full detail on the regulations can be accessed here (pdf).
