per cent of the market and are the players that operators are most nervous about losing.
NEW AND IMPROVED Speaking to SynotTip’s CEO Petr Mikoska, he
explained that while the new gaming act would come into force in January 2017, the legislation has already enacted changes to the taxation structure for gaming machines in the Czech Republic. Taxable revenue per slot device has risen from 20 per cent to 28 per cent, impacting not just on the profitability of each machine, but on their viability too.
At the same time that the federal legislation increase taxes, individual municipalities across the country can choose to banish slot machines from their streets, as is the current case in Brno, Czech’s second city and the seat of judicial power. “Regardless of whether the municipalities are closing our locations as part of gaming bans, we are closing locations of our own volition,” explained Mr. Mikoska. “We have to draw machines from the market if they are not economically viable, which is the case in countless locations across the country thanks to the new taxation regime.”
Te second reading of the new law is expected to pass through parliament mid-March, adding opening time restrictions as part of its amendments. Te law will inflict another blow upon the land-based gaming industry, which expects the registration of players and connection of the online monitoring system across the country to be a complicated mess that could be delayed by at least 12 months.
“Te mayor of Brno recently admitted that the loss of gaming tax revenues to the city was unsustainable in the long-run,” explained Mr. Mikoska. “Te mayor also added that the rise of what he described as “Black Terminals” or the Quizomat machines, was now a far bigger problem than the licensed, taxed and regulated gaming machines that the city chose to ban. He has admitted that prohibition does not work, but with the new taxation structure it is hard to imagine how cities like Brno can remedy the situation.”
AND THE FUTURE? It might be surprising, given the catalogue of
negatives the new legislation brings in its wake, but Synot underlines the fact that it is
anticipating the introduction of the newlaw. “It is very important thatwe have stability in the gaming industry,” statesMr.Mikoska. “We can’t operate in an unstablemarket that changes the rules and regulations at thewhim of every elected official. As amanufacturer and operator, we need to calculate the costs of business accurately to determine the future direction of our company. Under the present rules, we simply can’t make those judgements.”
Despite the introduction of the new federal law, local municipalities will still be able to control their own gaming legislation, effectively making the law a ‘pick-n’mix’ with City Hall over-ruling the government when the legislation is enacted in 2017. It’s more important than ever, therefore, that Synot continues to spread its international wings, capturing new markets with its varied and high quality gaming portfolio.
Recent installation success in Vietnam and African markets, plus a significant slice of the Greek VLT sector, present huge opportunities for Synot’s robust VLT system, ensuring that 2016 will be one of expansion and growth for the company, though not on home soil.
NEWSWIRE / INTERACTIVE /
247.COM P59
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