SKY BETTING EXPANDS IN YORKSHIRE
2015-01-26
The online gambling services of Sky Betting and Gaming look set to expand following reports in the Yorkshire Business Daily that the company is to create 90 new jobs at its Leeds head office.
Private equity firm CVC Capital Partners bought the business from Sky late last year (see previous InfoPowa reports).
Sky management told Business Daily that the company has rapidly expanded over the last 12 months, and the new positions have been created in a range of departments across the business, including technology, product development, marketing and customer service.
Managing director Richard Flint confirmed the expansion following the GBP 800 million CVC deal, and said that Sky will provide comprehensive development and training to the new employees to help them grow the skills needed for the continued operation of the online gambling business.
DEBATE CONTINUES ON NEW JERSEY TAX HARVEST FROM INTERNET GAMBLING2013-04-25The debate around how much
NFL Odds tax New Jersey will reap from legalised online gambling in the state (see previous InfoPowa reports) continued this week with the publication New Jersey.com publishing comparative figures from a number of studies.
The Christie administration's projection - based on estimates by the traditionally conservative Wells Fargo analysts - is that online gambling will raise $180 million in state tax revenues in its first year, but that differs substantially from other professional studies, the publication observes.
New Jersey.com notes that industry research firm Gambling Data, estimated in a recent study that overall online gaming revenues in Year One would reach $261.9 million. At a 15 percent tax rate that would generate $39.3 million in money for the state.
And in late 2010, a study by Econsult Corp. commissioned by the Interactive Media Entertainment and Gaming Association, estimated $210 million to $260 million in "short-run" revenues, working out to $31.5 million to $39 million in state tax revenues.
The Wells Fargo Securities report also suggested that initially revenues might not be quite as high as those anticipated later on, remarking: "...in the near term, we believe the New Jersey online market could generate between $650 million and $850 million," suggesting tax revenues of up to $127.5 million.
Entering the fray Monday, state Sen. Paul Sarlo commented: "I consider the $180 million number to be completely erroneous - it's not a number that has any credibility."
Treasury Department spokesman Bill Quinn acknowledged that there are "widely varying [revenue] estimates," adding that the fact that Nevada, Delaware and New Jersey are introducing the first legal online gambling sites might provide a "novelty factor" boost to each.
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