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”Litigious lifeline:However, Bloomberg reported that the IRS’ latest stance on daily fantasy sports is at odds with the 2007 ruling from the United States District Court for the District of New Jersey in the matter of Humphrey v Viacom.Defective approach:Jason Robins, Chief Executive Officer for DraftKings Incorporated, reportedly used a Friday conference call with investors to proclaim that the IRS is ‘deeply flawed in its analysis’ of what actually constitutes a sportsbetting wager and that its latest stance will not be binding in court shouldeveloper Red Tiger Gaming has put pen to paper for the third time this month, adding popular online casino brand 32Red to its growing list of partners....
For its part, 32Red UK General Manager, Neil Banbury, added…“Red Tiger is a tier one provider with a track-record of popularity among a wide variety of audiences.“Red Tiger is a tier one provider with a track-record of popularity among a wide variety of audiences.”August content deals:As mentioned, the casino games development company has already scored a hat trick’s worth of new partnership deals this month, having most recently joined forces with white-label and gaming platform provider, The Mill Adventure, and entering the Estonian market for the first time with leading casino brand Betsafe earlier in August....
“We are excited by the opportunities this agreement presents and look forward to working alongside their team in the months to come.Ample amount:The news service reported that the IRS now looks set to start defining these admission payments as sportsbetting wagers, which means that firms such as FanDuel Group and DraftKings Incorporated could see each entry fee subjected to a maximum 2% excise tax alongside an annual 0 charge for every person processing such transactions.Considerable consequences:Kate Lowenhar-Fisher from the Nevada law firm of Dickinson Wright reportedly told Bloomberg that such a state of affairs could be ‘potentially business-destroying’ in some jurisdictions as it would equate to a hefty 20% tax on revenues....
We have no doubt its games will be well received by our players.UK presence:Commenting on the new partnership, Commercial Director for Red Tiger Gaming, Chris Looney said in a company press release…“We’re delighted to partner with 32Red, and look forward to entertaining its players with our favourite games and the new titles we have planned.”Partnership perks:Red32 has also joined the supplier’s Daily Drop Jackpots Network, which allows it to offer the studio’s exciting daily and hourly jackpots to players....
Lowenhar-Fisher reportedly told the news service…“This is one of the most significant events in the evolution of sportsbetting in the United States that has happened in a long time. The lawyer purportedly detailed that daily fantasy sports operators could furthermore be hit with late payment penalties for taxes they didn’t previously pay.Ample amount:The news service reported that the IRS now looks set to start defining these admission payments as sportsbetting wagers, which means that firms such as FanDuel Group and DraftKings Incorporated could see each entry fee subjected to a maximum 2% excise tax alongside an annual 0 charge for every person processing such transactions....
