The Upper Tribunal has dismissed HMRC’s appeal relating to the VAT treatment of fixed odds betting terminals (FOBTs) and could lead to VAT refunds for the UK’s bookmakers.
The betting shops might be closed and the sporting calendar lies bare but betting firms have been doing their bit in the efforts to combat the pandemic.
Gambling activities account for 60% of global gambling revenues have been subject to restriction or shutdown since the start of 2020, as part of measures to halt the spread of the COVID-19 virus.
Cambodian casino operator NagaCorp has issued an upbeat statement amidst all the gloomy news for the global casino sector. NagaCorp made the statement after the government required casinos to close their doors from 1 April 2020 until further notice.
Visitors to South Korea fell by 43% in the month of February 2020, with just 685,000 arrivals.
Macau’s gaming revenues have fallen by 60% in the first quarter of 2020, as travel restrictions and quarantine lockdowns continue to be imposed in the region to combat the COVID-19 virus.