The global recession has caused a lot of turmoil in the finances of governments over the last year. Radical times call for radical ideas and governments all over the world are looking for stable ways to generate revenue on an ongoing basis into the future.
A lot of the old certainties about what types of revenue generating and taxation can be relied upon have been swept away and this situation is causing governments to look beyond their traditional taxation base for answers to the difficult questions.
The online casino industry has a couple of outstanding features in this regard. While online casino revenues have been down over the last year, the industry has shown that it can perform better than most in a recession and also unlike a lot of other types of online business, the industry does tend to generate a good number of jobs wherever operations are based.
Gibraltar as an example has benefited greatly from providing an attractive regulatory and taxation environment for the online casino industry. Will 2010 be the year that we see other jurisdictions start to compete as a base for the industry as well?
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