Codwin lands in Italy ready to offer the maximum fun, entertainment and games offer in the Italian market. The launch of this new bookmaker took place on July 1. Codwin was born after the merger of FG SLOT into GAP GAMES. Both entities are majority owned by Codere Italia. This merger was approved by the shareholders’ meetings of both companies on April 16.
Codwin’s managing director, Andrea Rigodanzo, has been very satisfied with this merger and looks forward to great success. This merger and launch occurs at a time of maximum complexity for the gaming sector due to the increase in taxes and the health crisis of COVID-19. Rigodanzo said “at a time of extreme difficulty for the legal games sector and, in particular, for entertainment device operators, we decided to join forces to face the challenges that the market imposes on us with determination and determination.”
Codwin lands in Italy and among its objectives is to “offer a model of integration and management efficiency that will also represent an incubator for other companies that wish to continue operating, in accordance with the usual standards of reliability and legality and that have a project to long term to share with us ”, as explained by the managing director Rigodanzo.
Tax increase
There are currently around 265,000 entertainment devices connected to the Sogei network. This represents a reduction of 35% due to the application of the Stability Law of 2017. In recent years, taxes in the gaming sector have been increased and this increase is of great concern to the sector. In just four years, the rate has increased by around 10%. Currently the current rate is 23.84%. In 2019, the rate was 21.68%. A year earlier, in 2018, the juice sector rate was 19.25%. And in 2016, the rate was 13 to 17.5%.
