More consolidation in Irish casino news

There have been rumours in the Irish casino news for quite some time about possible mergers between major players in the online casino and online gambling industry but recent reports suggest that the introduction of what is called the point of consumption tax in the UK has been the catalyst which has tipped the balance in favour of doing deals. Up until recently online casinos and other bookmakers with online operations based themselves in low tax areas such as Gibraltar or Malta which is where taxes were paid on online casino profits and our own Paddy Power Casino is no exception. However recent legislation passed in the UK insists that a 15%tax is levied on all income generated from customers who are based in the UK regardless of where the online casino company is based. This has not yet happened in Ireland but it will come as no surprise if we see in the Irish casino news before too long that they have followed suit as it is a good source of tax income for the country. The problem now according to the Irish casino news is that those who do not do a deal could themselves become a target of a takeover. The most interesting is probably the battle for Bwin.party which has so far come down to a straight fight between 888 and GVC and although the 888 casino bid was accepted GVC now has the larger offer on the table. Earlier this year William Hill tried to buy 888 but was unsuccessful but it might well try again if GVC wins the Bwin battle leaving 888 out in the cold. Remember also that Ladbrokes casino and Coral have agreed a deal albeit subject to regulatory approval which it might not get without selling or shutting some of its UK shops but even that might not be a drama with the move to online casinos and online bookmakers by the public.