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Latvian Government Supports Gambling Tax Hike

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Latvia’s Cabinet of Ministers has supported the Finance Ministry’s proposed Law amendments on Lotteries and Gambling Fee and Tax, providing for an increase in gambling tax next year.

The existing tax for gambling machines is EUR 4164. In 2020, it will be EUR 6000. The law amendments will also increase the gambling tax rate for roulette, cards and dice games from EUR 23400 to EUR 28080.

It is also planned to change gambling tax revenue division between the state and municipal budgets, providing gambling tax revenue – 90% for the state budget and 10% to budgets of municipalities in which gambling is organised. The current ratio is 75% for the state budget and 25% for municipal budgets.

Raising the tax rate by 44% or EUR 6000 per gambling machines, it is expected the number of gambling machine numbers to decline by 5% – from 8680 to 8247 per year.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Latvian Government Supports Gambling Tax Hike

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Caesars and Eldorado Set Date for Shareholders Meetings

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Caesars Entertainment and Eldorado Resorts have announced that they will hold separate shareholder meetings on November 15 to vote on their proposed US$17.3 billion merger.

The meetings will see Caesars shareholders cast their vote at Caesars Palace in Las Vegas from 9 am Pacific Time while Eldorado shareholders will converge on Eldorado Resort in Reno. At stake is one of the biggest corporate gaming industry deals in history, with Eldorado looking to acquire the entire outstanding share capital in Caesars by way of a US$7.2 billion cash payment, 77 million Eldorado common shares and the assumption of Caesars’ outstanding net debt.

If approved, Caesars will merge with Eldorado subsidiary Colt Merger Sub Inc and become a new wholly-owned Eldorado subsidiary existing under the Caesars name.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Caesars and Eldorado Set Date for Shareholders Meetings

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Tom Horn’s Hot’n’Fruity promises classic entertainment with huge winning potential

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Watch the winning blaze explode !

Tom Horn Gaming’s new slot game, Hot’n’Fruity, promises to satisfy any craving for a feature-packed, visually attractive gaming entertainment.

In recent months the provider has upped its game, releasing more engaging titles with new innovative features, while still keeping classic player experience alive. This well-balanced combination of new ideas, presented in the form of game mechanics, and a tried and tested game concept, theme or visual is reflected also in Hot’n’Fruity.

Despite its thematic simplicity, this 5-reel slot is extremely engrossing due to its nifty features and winning rhythm. There are two symbols to look for. A W-star symbol appears anywhere on the screen and acts like a random Wild showering players with unexpected big wins.

R-stars are the ultimate characters to come across in Hot’n’Fruity as they trigger a Respin Wild feature when they land on the 2nd, 3rd or 4th reel. They expand to cover the whole reel, remaining in place while the other reels respin.

This game is sure to award lucky players with many winning opportunities. In addition to a nicely devised winning pattern, the art style is extremely well drawn and quickly pulls players into the settings.

The game is just another fruity slot, but a more inspired, nuanced alternative sure to capture the attention of players in many markets. It is available worldwide from 15th October 2019.

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Tom Horn’s Hot’n’Fruity promises classic entertainment with huge winning potential

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Privatisation of FDJ to Begin in November

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Bruno Le Maire, France’s finance minister, has revealed that the subscription period for Française des Jeux’s (FDJ) initial public offering (IPO) will run from November 7–20. The privatisation of FDJ, the leading operator in Europe, in being anticipated as one of the year’s main highlights.

Bruno Le Maire said that French people and investors will have the chance to subscribe to FDJ shares between November 7 and November 20. He added that the state will not fix a limit for the offering, and that retail investors will get one free share for every 10 shares purchased and a 2% discount on the offer price.

The French state currently holds 72% of FDJ, but after the privatisation, it will only have 20% of the company. Government spokeswoman Sibeth Ndiaye said that the ordinance ends the FDJ monopoly to replace it with a limited-term right, set at 25 years and renewable.

“I hope that this privatisation popularly succeeds with the widest participation possible,” Le Maire said. The minister added that the privatisation will allow the company to develop and reach its full potential.

As part of the privatisation, the French government unveiled the creation of the L’autorité nationale des jeux (ANJ), which will replace L’autorité nationale de régulation des jeux en ligne (ARJEL).

Source: Latest News at European Gaming Media
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Privatisation of FDJ to Begin in November

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