GVC Holdings pulls out of Czech market

[The Buzz]

Following the announcement that its PartyPoker brand had withdrawn its regulated license application, GVC Holdings confirmed that it will not pursue operator licensing in the Czech Republic, according to multiple reports.

From GamblingInsider.com

In an announcement to affiliates, the company said that it had withdrawn from the Czech Republic because its current gaming laws are “incompatible with the principles of the European Union”.

The company reaffirmed its support of the Czech government’s objectives of stabilising the online gambling market in the Czech Republic but stated that GVC customers in the republic would now be limited to withdrawing their funds from the company’s platforms.

At present, Czech gambling authorities place a 23% tax on sports betting revenues and a 35% tax on casino slots play. However, over the last year many international operators have called this tax level unfairly punitive, saying that such a regime is unworkable and directly breaches EU standards.

Read more here: https://www.gamblinginsider.com/news...czech-republic

and here: http://www.yogonet.com/international/node/43363

[tal84s]

I don't understand why those governments are so greedy. They just monopolize the market with their exaggerated taxes. In the end only few brands are operating there but there is no real competition and selection for the players. For affiliates it's the worst scenario because these brands can't offer good deals for the affiliates (very low margins) and they don't have real competition so they can offer ridiculous deals - Take it or leave it.

[maxpower]

IMHO the main problem is not taxes, but that the gamblers must register in a "brick and mortar" branch. This pulled out the most operators because the main competitors like Fortuna, Synot, Chance and Tipsport have many of such branches.