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Better Get This Party Started

|  Published: Jun 01, 2011


Online poker and gaming behemoths PartyGaming and bwin waltzed down the corporate isle at the end of March, exchanged vows and became one. The honeymoon period was short-lived however with news that German legislators were hell bent on squeezing the life out of companies hoping to gain a legally solid foothold in the vast online market there. Shares in the company plummeted on the news (see Industry News), analysts engaged in hand wringing, and investors went a whiter shade of pale. This was not how it was meant to be. One of the main areas of concern is that gross turnover, including poker turnover, would be taxed at 16 percent. This seems an impossible figure for any company to live with commercially and makes the recently regulated French and Italian regimes sound positively utopian. The uncertainty expressed by the markets reflected in the share price of digital entertainment (an ...

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