Amendments Archives - Keno Wizard https://kenowizard.com/tag/amendments/ The Ultimate Keno Destination for Odds, Tips & Tricks Mon, 20 May 2024 16:34:20 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.1 https://i0.wp.com/kenowizard.com/wp-content/uploads/2023/02/cropped-keno-wizard-icon.png?fit=32%2C32&ssl=1 Amendments Archives - Keno Wizard https://kenowizard.com/tag/amendments/ 32 32 230792155 Bulgarian President Approves Gambling Law Amendments, Bans Ads https://kenowizard.com/2024/05/20/bulgarian-president-approves-gambling-law-amendments-bans-ads/ https://kenowizard.com/2024/05/20/bulgarian-president-approves-gambling-law-amendments-bans-ads/#respond Mon, 20 May 2024 16:34:20 +0000 https://kenowizard.com/2024/05/20/bulgarian-president-approves-gambling-law-amendments-bans-ads/ Bulgarian President Rumen Radev has opted not to veto the proposed amendments to the Gambling Law, which include a ban on gambling advertisements in the media. President Radev had previously indicated that he was considering the changes to the Gambling Law and was awaiting input from his advisors before making a final decision. Despite objections [...]

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Bulgarian President Rumen Radev has approved amendments to the Gambling Law, prohibiting gambling advertisements in the media, despite objections from various stakeholders.Bulgarian President Rumen Radev has opted not to veto the proposed amendments to the Gambling Law, which include a ban on gambling advertisements in the media.

President Radev had previously indicated that he was considering the changes to the Gambling Law and was awaiting input from his advisors before making a final decision.

Despite objections from media outlets, gambling operators, sports clubs, and other businesses between the readings, the prohibition on gambling advertisements in the media was approved by a significant majority of deputies during the final session of the 49th National Assembly. Some stakeholders argued that public discussion should precede the adoption of such a significant measure.

The initiative for these amendments came from GERB and DPS and was introduced unexpectedly during the final days of the 49th National Assembly by Yordan Tsonev (DPS) and Temenuzka Petkova (GERB). The bill rapidly moved through the legislative process, passing its first reading in the budget committee and subsequently receiving approval in the plenary session. An extraordinary meeting of the Committee on Budget and Finance was convened to expedite the voting on the amendments before deputies began their pre-election recess.

Controversial Ban on Gambling Ads

The new amendments, which include a total ban on gambling advertisements in the media, have sparked controversy. Various stakeholders have expressed their concerns and objections. Media outlets, gambling operators, sports clubs, and other businesses affected by the law have argued against the ban, suggesting that a public discussion should precede such a significant legislative change. However, despite these objections, the amendments were passed with a substantial majority.

President Radev’s decision not to veto the amendments has finalized the legislative process, bringing about significant changes to the Gambling Law in Bulgaria The new prohibition on gambling advertisements in the media marks a substantial shift in the regulatory landscape for gambling in the country. Despite the objections and calls for public debate, the amendments have been approved and will soon come into effect.

Source: “Bulgarian President Approves Gambling Law Amendments”. European Gaming. May 17, 2024.

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New Jersey Court Reexamines Casino Property Tax Amendments https://kenowizard.com/2024/03/22/new-jersey-court-reexamines-casino-property-tax-amendments/ https://kenowizard.com/2024/03/22/new-jersey-court-reexamines-casino-property-tax-amendments/#respond Fri, 22 Mar 2024 08:22:17 +0000 https://kenowizard.com/2024/03/22/new-jersey-court-reexamines-casino-property-tax-amendments/ A New Jersey Appellate Court panel recently heard arguments in two cases concerning amendments to the state governing how much money casinos pay in lieu of property taxes. The cases, brought by Atlantic County and the nonprofit Liberty and Prosperity, revolve around changes made in 2021 that excluded internet gaming and online sports betting revenues [...]

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A New Jersey Appellate Court panel recently heard arguments in two cases concerning amendments to the state governing how much money casinos pay in lieu of property taxes. The cases, brought by Atlantic County and the nonprofit Liberty and Prosperity, revolve around changes made in 2021 that excluded internet gaming and online sports betting revenues from the calculations of casino payments.

The State Argues Casinos Require Special Treatment

In Superior Court in 2022, Atlantic County and Liberty and Prosperity prevailed in their lawsuits, contending that the amendments violated a 2018 consent agreement and the state Constitution. They argued that the changes resulted in a loss of approximately $5 million per year for county taxpayers, benefiting an industry detrimental to public health.

Despite the initial victory, the New Jersey Attorney General’s Office argued in favor of the amendments, emphasizing the need for changes to ensure a predictable revenue stream for casino taxes and to prevent potentially ruinous tax hikes. During the appellate court hearing, Tim Sheehan, representing the state, argued that the amendments were necessary to safeguard the financial stability of casinos and prevent closures.

The Legislature acted to exclude internet gaming and (online) sports gaming revenues … to ensure casino taxes continued in a predictable revenue stream.

Tim Sheehan, New Jersey Attorney General’s Office representative

Sheehan highlighted the rationale behind the amendments, citing concerns that a significant portion of internet gaming and online sports betting revenues went to third parties rather than the casinos themselves. He added the amendments were vital to avoid potential tax hikes, which could be disastrous for the broader sector and damage a leading contributor to the local economy.

The Amendments May Just Spread the Financial Burden

Despite the state’s concerns, Appellate Judge Francis J. Vernoia questioned whether the amendments effectively rescued casinos from ill-conceived business deals at the expense of other property owners. Seth Grossman of Liberty & Prosperity echoed this sentiment, arguing that the burden had unfairly shifted from casinos to non-casino property owners, adding the gambling sector did not need such a safety net.

So the amendment was to make sure the casinos kept more of the money? Aren’t we just rescuing a bad business deal?

Appellate Judge Francis J. Vernoia

The crux of the dispute revolves around whether the amendments violated the terms of the 2018 consent agreement and encroached upon judicial authority. While Sheehan contended that the Legislature had the authority to change laws at any time, Ronald Riccio, representing Atlantic County, argued that such changes cannot alter court orders.

The outcome of the appellate court’s decision is eagerly awaited, with Riccio acknowledging the unpredictability of judicial rulings based on judges’ questions during the hearing. The court should settle on a decision in the coming weeks, potentially impacting the tax obligations of New Jersey casinos and other property owners.

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Proposed Amendments To Czech Republic’s Online Gambling Act https://kenowizard.com/2023/07/20/proposed-amendments-to-czech-republics-online-gambling-act/ https://kenowizard.com/2023/07/20/proposed-amendments-to-czech-republics-online-gambling-act/#respond Thu, 20 Jul 2023 02:30:17 +0000 https://kenowizard.com/2023/07/20/proposed-amendments-to-czech-republics-online-gambling-act/ The Czech Republic’s Gambling Act is undergoing proposed amendments following a review of the laws that became effective on January 1, 2017. The main objective of the Regulatory Impact Assessment (RIA) for the Act on Gambling and its Associated Legislation is to improve player safety, combat criminal activities, and foster the growth of legal gambling [...]

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The Czech Republic’s Gambling Act is undergoing proposed amendments following a review of the laws that became effective on January 1, 2017.

The main objective of the Regulatory Impact Assessment (RIA) for the Act on Gambling and its Associated Legislation is to improve player safety, combat criminal activities, and foster the growth of legal gambling opportunities.

Introduction of Panic Buttons

To enhance player protection in both online and land-based casinos, a new panic button feature will be mandated and prominently displayed for players. When activated, this button will block the player from gambling with all operators for a 48-hour period.

Additionally, players will have the option to self-exclude themselves for specific durations during which they cannot be removed from the self-exclusion database. They will also have the choice to extend the exclusion period. The register will be expanded to include individuals under criminal investigation.

Laws to Legalise Live Dealer Gaming

The proposed amendment will permit live dealer games in the country, as presently, only random number generator and digital table games are allowed at live casinos.

Furthermore, measures will be taken to increase the prevention of illegal online gambling. Any operator whose games are accessible in the Czech Republic will be considered operating there, even if they are not explicitly targeting local players. This extension will encompass all “applications and platforms that offer or mediate illegal gambling games,” which may limit affiliates to working only with locally licensed operators.

New Fee System for License Applicants

The draft bill also introduces changes to the payment of deposits for license applicants. The amount paid will now be determined based on four different bands.

Currently, those seeking a license must either deposit funds into a ministry bank account or provide a bank guarantee. For gaming halls, the deposit ranges from CZK 1.0m to CZK 50.0m, while casinos pay between CZK 10.0m and CZK 50.0m. For online licenses, operators pay CZK 5.0m for betting on racing, CZK 30.0m for odds betting and totalizator games, and CZK 50.0m for lotteries and casino games.

The total deposit amount will be determined by the level of customer activity and the risk associated with the games offered by the licensee.

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