Irish casino news

The Irish Prime Minister, Brian Cowen, is reported to have raised the question of increased taxes on online gambling operators during a recent after dinner speech. Ireland has been talking about changing its outdated gambling laws for a long time, but the decline of the horse racing industry and the current financial problems facing the country have brought the issue back on the agenda. It is a matter of opinion whether increased regulation and higher taxes would resolve these problems, but it is not good news for Irish casinos. Online casino operators employ a great many people in Ireland, but they will obviously be concerned about this particular suggestion and may well consider following William Hill and Ladbrokes who responded to similar legislation in the UK by relocating abroad. We are all aware that Ireland needs to reduce its debt, and that one way of doing this is to increase tax revenue, but we’re not sure that singling out one particular industry for increased taxes under the banner of reforming gambling laws is the best approach, particularly in this modern world where online businesses can operate from anywhere in the world. Online casino operators currently based in Ireland will be listening very carefully for any further moves in this direction and will be hoping that Mr. Cowen will reconsider his proposals. Ireland’s gambling laws do need reforming, but maybe increased taxes should not necessarily be part of those reforms.