France Is Considering Legalizing Online Casinos

by THEFUTURE.TEAM

October 24, 2024

62%. This is public support for the French authorities’ intentions to legalize online casinos, according to a survey by the French Association of Online Games (AFJEL). Very soon, such legal amendments may become a fact, writes the French publication Le Figaro.

Online casinos in France are prohibited by law. Along with Cyprus, it is the only country in the EU that completely bans online casino games. French authorities only allow sports betting, horse racing, and poker online. The online lottery is also legal in France, although there is only one operator – La Française des Jeux (FDJ).

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However, in 2023, illegal online casinos operating in France generated an impressive 750 million euros in turnover, a sign that legal restrictions are in no way preventing these businesses from thriving from the comfort of tax havens, in which are registered.

Now the government is proposing changes as part of the draft budget for 2025, which would make the activity of online casinos subject to control. The texts were presented over the weekend and considered by French MPs on Monday. If the changes are finally adopted, virtual casino games will be taxed at 55.6% of their turnover.

The government claims that legalizing online casinos will help tackle the presence of illegal sites that often operate from tax havens. This could contribute to limiting the risk to public health,

However, the proposed amendments are not being taken lightly by casino owners, who have come out strongly against the amendment, which will expose their establishments to unwanted competition.

“According to our calculations, the opening of online casinos to competition will lead to a drop in gross gambling revenue of land-based casinos by around 20 to 30% and the closure of 30% of establishments,” said Gregory Rabuel, president of the Casinos de France union. to the French media Les Echos.

THE BUDGETARY POLICY OF FRANCE

Last year, France’s government deficit reached 5.5% of the country’s GDP, significantly exceeding forecasts and breaching the EU’s target of 3%. Late last month, new budget minister Laurent Saint-Martin revealed that this year’s deficit could exceed 6%.

While the government hopes to rein in spending, it is also looking for ways to raise revenue. Part of the country’s current financial problems are related to reduced tax revenues. This is partly because economic growth has recently been driven by exports rather than domestic consumption, resulting in lower VAT revenues.

A review of the revenue side of the 2025 state budget, which calls for 60 billion in new tax revenue, began on Monday, kicking off the most important few weeks of Prime Minister Michel Barnier’s tenure, whose government enjoys fragile support.

In his opening speech, Economy Minister Antoine Armand advocated a budget that would allow the public deficit to be reduced to 5% of GDP in 2025, rejecting any “austerity” while predicting a 0.4% increase in public spending

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Mercedes-Benz Posts Higher Profit Despite China Slowdown

by THEFUTURE.TEAM

July 29, 2026

Mercedes-Benz reported stronger-than-expected second-quarter results, lifting its shares on Tuesday despite mounting pressure from Chinese automakers and a weaker outlook for sales and revenue.

The earnings provided a boost for Europe’s auto sector, where manufacturers continue to grapple with tariffs, softer demand and intensifying competition from Chinese rivals. Volkswagen, Mercedes-Benz and BMW have all accelerated restructuring efforts in response.

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Cost Discipline Lifts Quarterly Profit

Mercedes-Benz shares rose as much as 5.9% following the results before trimming gains to trade 3.5% higher by 1118 GMT. The company reaffirmed its profit margin guidance for its core passenger car business after reporting an adjusted return on sales of 4.0% for the second quarter, above market expectations and within its 3% to 5% target range.

“In an environment where some automakers are ringing alarm bells on their competitive positioning, Mercedes delivered a clear and confident message,” Morningstar analyst Rella Suskin said.

Second-quarter operating profit increased 22% to €1.5 billion ($1.7 billion), despite a 3% decline in revenue. Lower administrative and research and development costs, together with strong performances from the financial services and vans divisions, supported earnings, while the results also included a €131 million gain related to the planned sale of leasing subsidiary Athlon.

China Remains The Key Pressure Point

Despite stronger profitability, Mercedes continues to face a challenging market environment. Sales in China fell 30% during the second quarter, prompting the company to abandon earlier expectations for stable car sales and group revenue. It now expects both to decline slightly from a year earlier.

BMW also lowered its outlook in June following a deeper-than-expected slowdown in China, highlighting the pressure facing Germany’s premium carmakers. At the same time, Mercedes said Chinese manufacturers are increasingly expanding into European markets, although Chief Executive Ola Kaellenius said their focus remains on higher-volume segments rather than the premium market.

“But that is not a reason to sit back and be relaxed,” he said.

Manufacturing Shift Continues

Mercedes is also reshaping its manufacturing footprint. The company said its German factories will undergo a more aggressive push toward leaner production, although it declined to provide further details while talks with labour representatives continue. Production is also being expanded in lower-cost Eastern European locations, including Hungary, where the company is increasing capacity at its Kecskemet plant, as well as in Poland.

Chief Financial Officer Harald Wilhelm said the full-year margin for the passenger car division is expected to come in at the lower end of the company’s guidance range, reflecting a higher share of electric vehicle sales in Europe, which remain more expensive to produce and continue to weigh on profitability.

“We must continue to work flat out to reduce costs so that we can remain competitive on the prices of our products,” Kaellenius said.

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