Italy’s gambling operators are protesting the government’s decision to hike gambling taxes and reduce land-based slots payouts to customers.
On Wednesday, Italy’s coalition government delivered its latest assault on its gambling industry in the form of gambling tax hikes and reduced customer payouts. The changes were revealed in the so-called ‘maxi amendment’ to the budget maneuver, which still awaits a final vote by Italy’s full parliament.
Among the major changes proposed is a hike in online casino tax from its current 20% to 25%, effective January 1. The government claims the hike will generate an additional €50m in annual revenue for the state.
Online sports betting revenue will now be taxed at a rate of 24%, up from the current 22%, while land-based betting operators (excluding horse betting, natch) will also face a two-point hike to 20%. Ditto for virtual betting, the tax on which is rising two points to 22%. The betting hikes are expected to cost operators an additional €30m per year.