Spain’s financial crisis has been one of the worst in the world. This same crisis has led the Spanish casino association to call the attention of the government to come up with more lenient tax regime that will sympathize with their industry. They are asking for something that will allow the members of the association to adopt more flexible approach to trading. The association is also calling on the government to lift the restrictions for advertising and marketing and for equality with the online gaming sector.
The association’s chairman, Angel Maria Escolano Bello, referred to duties including economic activity tax that cost them €76,000 as a hindrance to the industry’s commercial activity. He stated that these duties had not provided them with opportunities to adapt their trading during seasonal fluctuations. Gaming taxes that are as much as 60% of their revenues are ‘choking’ the owners.
Many people believe that the possible penetration of Las Vegas Sands in Spain’s casino industry may be one of the reasons why Spanish casino operators are stating such demands Las Vegas Sands may possibly build a mega resort only if the government meets their conditions. There is a prospect of having two different sets of regulations: one for the home industry and the other one for international operators. Sands is expected to come out with their decision next month.