Pinnacle set to exit in April, when the new Gambling Act in Poland is implemented
High tax costs and a monopolistic state-owned competition have apparently persuaded tier one online sports betting operator Pinnacle to announce that it is to exit the Polish market with effect from April 1 this year…the date on which Poland's contentious new Gambling Act is implemented.
The Act calls for a prohibitive tax rate of 12 percent based on turnover, and gives game range advantages to the state-owned Totalizator Sportowy, unless the European Commission steps in with a last-minute objection.
The legislation also carries punitive enforcement provisions that include heavy fines, black-listing and ISP-and-financial transaction blocking.
Market scuttlebutt is that Pinnacle is hoping to acquire a UK Gambling Commission licence, which would enable it to return to the Northern Ireland and British market that it abandoned two years ago.
Online Casino News Courtesy of Infopowa