Part 1: Italy – revolting populism
regulatory change for commercial gambling, more likely be in online versus land-based. Given
with the pendulum of fiscal-regulatory pain still the tax differential between the two sectors (circa
potentially having a fair way to swing, especially 25% for online versus the equivalent of around
if lower-than-expected tax receipts are met with 55% for land-based gaming machines), it means
more tax increases,” said the Regulus analysts. that an inevitable tax hole opens up underneath
Yet, as Regulus pointed out, something of
a policy dilemma emerges from the recent
future government revenues.
The news in late January that the Italian
government actions. Online currently represents government is considering further machine tax
a smaller percentage of total gaming revenues in rises suggests the government is busy looking
Italy than it does elsewhere (13% in 2018 compared in the wrong place for the solution. Whether it
with more than 50% in markets such as the UK). comes to see the error of its ways and switches
It means that the growth, if it is to come, will
focus to online is one storyline to follow in 2019.
Online currently represents a smaller percentage of total gaming
revenues in Italy than it does elsewhere, 13% in 2018 compared
with more than 50% in markets such as the UK
iGaming Business Market Monitor • February 2019
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