Hard Hit Italian Gambling Sector offered Concessions by the Government

Italy has been the hardest hit of all EU countries during the current Corona Virus pandemic. Not only have they experienced a high infection rate and death rate, which has forced the country into emergency shutdown, but the knock-on effects of the virus have moved on to affect the entire country’s population in one way or another.

The lockdown has had a massive effect on the country’s economy, forcing Prime Minister Conte to appeal to the EU for relief via a credit fund, to the tune of €900 billion. This amount is what is needed to ensure the stability of the country in the long term.

In the short-term, businesses are suffering from a lack of income. They are not able to meet their overheads and staff salaries while they are shut without means of earning an income. In support of such businesses, the government has announced the implementation of a relief package worth €25 billion. This will be available for companies needing aid to settle commercial rents, mortgage payments, and payroll responsibilities during the ongoing pandemic period. Both lottery and betting businesses may also apply for this relief.

More Details Further Aid

Aside from financial contributions from the government, certain other concessions have been offered to the gambling sector to aid in its sustainability. Some of the provisions include:

The duty on slots and VLTs can be deferred until 29 May 2020 with further concessions expected to be announced.
Betting Shop and Bingo Hall concessions are extended by 6 months
·Bingo Hall operators need not pay license fees during the crisis.
Gambling venues such as casinos can postpone concession fee payments until the end of the business year. These can be settled in instalments to make it easier for each business.
Lottery, betting, and gaming machine providers can suspend payments to the PAYE (Pay as you earn) program, temporarily.

Worldwide Elsewhere On The Planet

While Italy has been hardest hit, other betting jurisdictions are facing similar trials, as the public is being told to isolate themselves from public gatherings, including casinos and other venues where crowds may be found.

Spain has provided temporary government support and is providing 70% of payroll costs to affected businesses across all sectors. France has affected a plan to guarantee loans to businesses to the tune of €300 billion. Denmark will be helping employers settle up to 75% of wages for employees whose jobs may be in trouble as a result of the isolation requirements.

In Britain, the Betting and Gambling Council has put out a plea to the government for concessions to be made in the betting sector, using the initiatives listed above as an example of the type of relief needed in their region too.