The Nevada Gaming Commission approved Novomatic AG’s application to amend its order of registration for a reorganisation involving Austria and Switzerland, the report reports. It says the restructuring is intended for tax purposes and will increase Novum Swiss AG’s ownership of Novomatic from 10% to 25%.
The approval clears a regulatory step for Novomatic’s reorganisation, which will increase Novum Swiss AG’s ownership.
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Austria’s coalition negotiators remain divided over whether operators that served customers without local authorisation should gain immediate access to the planned regulated market. A proposed measure could bar companies found to have breached gambling rules in the previous five years from licensing for an additional period; the current sole online licence expires in 2027.
GRIF director Cesare Pozzi presented research on Italy's unregulated gambling market at an event in Rome. He said online gambling represents about 85% of the illegal market and that illegal activity accounts for 45% of the online segment, while cautioning that the estimates depend on statistical models.
Guardia di Finanza Brigadier General Michele Esposito said at a Rome event on 13 May that illegal gambling is linked to money laundering and transnational criminal networks. He said the legal gambling sector generates about €11bn in state revenue through several taxes and levies.
Novomatic Italia chief executive Markus Buechele said illegal gambling distorts competition in Italy at a Rome event on 13 May. He said unauthorised operators avoid licensing, compliance and tax costs, and warned that overly rigid rules could push consumers towards less-regulated or illegal markets.
PRISMA representative Marco Piatti presented research on Italy's unregulated gambling market at an event in Rome, estimating its minimum value at €30bn. He said about 5.5 million Italians use illegal gambling channels, including roughly four million who mainly use land-based channels, and cautioned that the market cannot be fully measured.