Richard Wade, one of the industry leaders appearing at February's ICE VOX learning programme, has acknowledged the challenge facing the gaming industry if it is to keep one step ahead of cyber criminals.

In seiner das britische Unternehmen The Rank Group PLC betreffenden Vorlageentscheidung hat der Gerichtshof der Europäischen Union (EuGH) den Grundsatz der der steuerlichen Neutralität bei der Umsatzbesteuerung von Glücksspielen geklärt (Urteil vom 10. November 2011, Rs. C-259/10 und C-260/10). Sofern der Mitgliedstaat – auch unabsichtlich – gegen eine unmittelbar anwendbare Richtlinienbestimmung verstößt, besteht ein Anspruch auf Steuerbefreiung.

The beleaguered casino industry suffered a fresh blow after the second of the UK's two dominant operators declared it was pulling out of the sector's oncepowerful trade body. Rank's resignation from the British Casino Association means the association will have even less clout when arguing with ministers over future issues such as taxation. The BCA, which had already been hit by Gala Coral's departure in October, is left contemplating the radical options...

The Rank Group Plc ("Rank") is pleased to note today's interim decision from the VAT and Duties Tribunal ("The Tribunal"). The Tribunal has ruled that, from November 2003 at least, the UK's Value Added Tax ("VAT") treatment of certain types of gaming machine was inconsistent with European Union rules concerning fiscal neutrality. This resulted in an overpayment of VAT by Rank.

Kuala Lumpur - Speculation that Genting Bhd is looking to take over Rank Group Plc remains rife as the UK's second largest bingo and casino operator continues with its share price uptrend. Rank's stock moved up to 99.25 pence at the time of writing yesterday, more than 12.5% up its Monday's close of 88.25 pence. Industry observers believed that one reason why the Genting group could be looking to acquire more of Rank shares is...

Rank, the bingo and casinos group long seen as a possible takeover target, has removed a key obstacle for potential buyers by agreeing a deal to hive off its pension plan. The company is transferring the pension scheme to the investment bank Goldman Sachs, making GBP 20m in cash and avoiding a further £30m in scheduled contributions to the scheme. The pension scheme has 20,000 members, reflecting the fact that Rank was once a bigger company.

Harrah's Entertainment, the American casino behemoth that owns London Clubs International (LCI), is understood to have made a tentative approach to Gala Coral Group, the betting and gaming operator, about the possibility of merging LCI with Gala Casinos. The news came as Genting, the Malaysian gaming company that owns Stanley Casinos, announced that it had lifted its stake in Rank Group...

US gambling giant Harrah’s Entertainment could be about to take another run at getting in on the action in the UK. The Nevada-based firm made an unsuccessful attempt last month to purchase a 28 percent slice of UK gambling group Rank. Rank subsequently sold around 18 percent of its business to Malaysian gambling firm Genting and British property group Richardson Capital.

Rank will tell investors this week that it is to slash its dividend after a profits warning in October lopped 25 per cent off the stock price. But the question teasing investors is why Genting, the Malaysian owner of Stanley Leisure, has acquired a 10 per cent stake in Rank, which operates casinos and the Mecca bingo chain. There are two theories. One says that Genting is planning a full-scale bid, the second that it has bought shares ahead of a bid by somebody else, possibly Harrah's Entertainment.

Casino and bingo operator Rank has rejected an approach from US casino giant Harrah’s Entertainment, Britain’s Telegraph newspaper reported. Without citing sources, the paper said Rank rebuffed the deal, which saw Harrah’s effectively offer to swap its own UK casinos for a 28 percent stake in the enlarged Rank. A spokesman for Rank declined to comment, Harrah’s could not be reached for comment.

A cut in the number of permitted GBP 500 jackpot machines coupled with the smoking ban have dealt Rank a double whammy, sending shares in the bingo and casino group plunging and threatening its dividend. In a shock profits warning, Rank said its Mecca Bingo and Grosvenor Casinos businesses had "experienced a significant deterioration in revenue in recent weeks". Rank warned that should such disappointing trading continue "group operating profit would be significantly lower" than 2006's GBP 77.4m.

Oklahoma City (AP) — Oklahoma is now third in the nation in the number of slot machines in the state, according to a study of the gaming industry nationwide, and Oklahomans spent an average of more than USD 600 per capita to gamble. The 597-page study illustrates Oklahoma’s development as a gambling state since November 2004, when voters approved expanded casino gaming and a lottery. It found Oklahoma has a slot machine for every 79 residents and the state’s 97 casinos held 45,289 machines at the end of 2006, representing 5.5 percent of all such machines in the U.S.