The government of Valencia will increase taxes on casino games and slot machines from next year.
According to new rules operators will need to pay an annual fee of €3,600 compared to the €3,200 they pay today per slot machine, while players who win prizes in casinos will pay at least 20 per cent, instead of the 15 per cent which they currently pay on prizes. The new rules are part of a much larger changes to the budget which have just been made public.
Operator of Type B machines located in bars, restaurants and casinos will need to pay the tax quarterly rather than yearly.
Winning customers in casinos will pay 20 percent on prizes up to €2m. This rises to 30 per cent for prizes from €2m to €4m, 40 per cent from €4m to €6m and 50 per cent for prizes of over €6m.
The new fee will apply to both games held in the main casino as well as in adjoining rooms.
New rules also open up competition in the sector as it eliminates the restriction of a single operator per province. This would end the monopoly enjoyed in practice, by the current licensees. (READ SO: THIS IS HOW MAFIAS WORK IN CASINOS ON SPAIN AND EUROPE)
As well as raising taxes it opens up competition in the substantial Spanish Type B street sector as well, which is currently restricted to a handful of specialized companies as the new law eliminates the ceiling for authorized licensees
