In the recent months, the online gaming regulations in Europe have eased. This has been advantageous for online gaming and betting operators like 32Red that want to enter markets that allow them legally. According to the chief executive for 32Red, the company has set its sights on Italy and intends to cross 2025 market estimates.

The company has gained new customers consistently in the past few months. This is predominantly a result of its marketing activities into which the company has put in a lot of funds. In light of this, 32Red currently expects to register a new set of results for the year.

32Red Scaling New Heights, Intends to Enter Italian Market

According to the chief executive, the business is scaling new heights. It is investing a lot of money in the top levels of marketing. Also, to bring in new customers, the company is being quite aggressive in its promotional offerings on casino games like online roulette. Of its many marketing activities, the most recent were sponsoring Swan City, a team in the Football League Championship and broadcasting TV advertisements of it.

On an average, the firm was expected to post £2.1 million (which is equivalent to $3.3 million) as full-year pretax profit and £22.1 million as revenue. Licensed by the government of Gibraltar, the firm stated that it intends to enter the Italian market as a licensed operator. Also, it wants to become an insider in the Italian market and lobby governments. With 32Red's preference for regulated markets, Italy is a natural option. This is the reason the company is looking at opportunities in this market.

As they are lucrative markets, countries in the European Union are being considered by several companies running gambling sites. 32Red's chief executive stated that another market that has interested the company is Spain. However, the firm is wary of the region's economic situation. Since March, the central bank in Europe has supported Italy and Spain's efforts to manage debts. It has bought approximately €70 billion of their bonds.

Denmark to Develop Online Gambling Market

Another European country that recently got the green light to develop an online gambling market is Denmark. According to site operators, other countries too should take similar steps to regulate online gambling activities. Prior to approving online betting in Denmark, the European Commission looked into the plans the country had drawn up for reducing taxes for online gambling.

According to a proposal in the Gaming Duties Act of Denmark, online casino game operators will be subjected to a tax of 20% on the gross revenues from gaming activities. This will be the amount the sites retain after they pay customers their earnings. This is significantly lower than the tax imposed on a few land-based casinos – 75%.

The commission stated that the tax would make up state aid; however, this was in line with the rules set by the European Union. The implications of a low tax rate are likely to be positive. It can lead to the liberalization of the gaming market. Online operators, represented by the Remote Gambling Association, clarified that the reasons for differences in tax rates were justified.