Germany's New Tax Law Threatens Online Poker Industry

A 5.3% rollover tax law for online poker and online slots came into effect in Germany on July 1. The new tax legislation is aimed at online poker and online slots and is seen as excessive, to the point of driving players to the unregulated market. The rollover tax treats every hand or slots spin as a distinct event, massively inflating the tax bill. Many major operators are culling the games selection offered to residents of Germany, drastically reducing traffic.

The sale of the World Poker Tour (WPT) has finally been completed with Element Partners, LLC, the new owners of one of the biggest brands in poker. Late last year, Element Partners tabled a bid of $78.25 million to take over the WPT brand, which was initially accepted. The deal was about to be completed in January 2021 when Bally’s Corporation jumped into the picture with a counter offer starting a bidding war. Eventually, Element Partners increased its offer to $105 million and the sale was once again back on track. A boardroom civil war broke out between execs from Allied Esports Entertainment, Inc and Ourgame International Holdings, Ltd, over how the proceeds would be split.

Phil Ivey has signed a partnership with NFT sales platform Ethernity Chain to produce unique merchandise promoting his image. The “Ivey Collection” is a series of digital collectibles that offer the chance to square up against the 10-time WSOP bracelet winner himself. By achieving the Royal Flush you get the opportunity to participate in a charity poker game featuring Phil Ivey.