French senate approves gambling tax hike
The rise in gambling tax hike will affect most verticals.
France.- Senators have voted for the government’s proposed rise in gambling tax. The proposal had been voted down by MPs but has now been approved by the Senate after an exemption was made for horseracing.
The new rates include 10 per cent on gross gambling from lottery. The tax on retail sports betting revenue will rise from 7 to 10 per cent and the tax on online GGR from 10.5 to 15 per cent. French casinos would see tax rise from 55 to close to 60 per cent. Online casino gambling remains unregulated.
Prime minister Michel Barnier hopes that together with rises on duty in other areas the move will raise €500m. The trade body AFJEL has criticised the proposals, warning that it would make the market less profitable and could harm the finances of sports federations, a concern that was also raised by the French Olympic Committee.
Online casino in France
Meanwhile, the French government has announced a six-month consultation on proposals to regulate online casino gambling in France. The government had announced plans to open a competitive regulated casino market in 2025 but backtracked after criticism from local authorities and land-based casino operators.
Budget minister Laurent Saint-Martin held a meeting with stakeholders from the casino, horse racing and online gambling sectors along with mayoral associations last Wednesday. The outcome is the announcement of a formal consultation period to last up to six months.
The first three months of the consultation period will focus on whether the regulation of online casino in France should happen at all, while the next three months will focus on what form regulation should take if it does go ahead. The government will also establish three working groups to evaluate the issue.
