IMGL Honors Individuals at G2E Reception
On September 24, the International Masters of Gaming Law presented awards at their member reception at G2E Las Vegas. LEFT: IMGL President Kelly Duncan presents the President’s Award to Sue McNabb. RIGHT, TOP: Kelly Duncan with Gaming Regulator of the Year Indian Country, John Roberts, and Jane Zerbi. BOTTOM: Frank Catania, Gaming Regulator of the Year Americas, David L. Rebuck, and Kelly Duncan.
William J. Downey
Affiliated - Counsel
Fox Rothschild LLP
Fox Rothschild LLP
1301 Atlantic Avenue Suite 400
Atlantic City, NJ 08401-7212
Tel: +1 609 348 4515
Fax: +1 609 348 6834
Cell: +1 609 412 1691
William Downey is a Partner with Fox Rothschild and counsels a varied clientele regarding all types of business transactions, including casino regulation, acquisitions and dispositions, real estate, corporate and real estate finance, venture structure, and entity formation and governance. Downey practices regularly before the New Jersey Casino Control Commission, the Pennsylvania Gaming Control Board and the Pennsylvania Harness Racing Commission representing casino and racetrack owners and operators, gaming industry lenders, casino executives, gaming equipment manufacturers, shop keepers and outside vendors and contractors. He has extensive experience in the prosecution of license applications before regulatory bodies, operational issues and regulatory review and contested enforcement matters. Downey also has significant experience in drafting and negotiating employment and professional services agreements. He is a member of the International Masters of Gaming Law. He received his J.D. from Rutgers University School of Law, Camden in 1991 and his B.A. from University of Notre Dame in1988.
Bulgarian Gambling-Tax Amendments Pass First Hurdle
06 Dec, 2013
Bulgarian lawmakers passed amendments to the country’s gambling laws in a first reading this week calling for a reduced online gambling tax rate, but the bill itself could still change before final passage, according to one attorney.
The passage followed a postponement last week, but on Wednesday 110 voted in favour of the changes, with 79 voting against and two abstentions. The amendments remove a provision for a 15 percent tax on turnover — or before player winnings are deducted — for replacement with a 20 percent tax on gross gaming revenue and a one-time fee of 100,000 Bulgarian lev (£42,500). One bill supporter predicted 40 companies will apply for licences, but a local attorney said the number is impossible to guess, in part because the amendments could still change before final passage. The proposed changes will still be debated line-by-line at second reading, according to Nadya Hambach, an attorney with Velchev & Co. The bill is set to establish a gambling regime that is “reasonable and competitive and might turn to be one of the best in Europe”, she said.
A local trade group, Bulgarian Association of Manufacturers and Operators in the Gaming Industry (BTAMOGI), has expressed concerns that the domestic industry could be disadvantaged by the removal of provisions for testing and licensing importers and manufacturers, and create an incentive for companies to locate manufacturing outside Bulgaria. But more broadly, the amendments call for operators to contribute to organisations for preventing underage gambling, preventing gambling addiction, promoting responsible advertising and resolution of disputes between operators and players. Minimum annual contributions would be 50,000 lev for online operators and 10,000 lev for land-based operators. Typically at the second reading MPs debate and vote on a bill in detail, and then the legislation would pass to Bulgarian President Rosen Plevneliev for final approval. Only one operator, Eurofootball Malta, has been licensed to offer online gambling, with two other applications under consideration. Unlicensed online companies are eligible for fines ranging from 500,000 lev to 1m lev for an individual, and 1m lev to 2m lev for a company, under the draft changes. Fines for illegal offline operators range from 50,000 to 200,000 lev for a company and 20,000 to 50,000 lev for an individual. About 40 online operators are expected to apply for licences.Lawmakers are hoping to enact legislation that would take effect in January.