Dutch reforms feasible without pensions accord, say experts

first_imgDutch pension funds could introduce a sustainable pensions contract without the need for a high-level agreement or new legislation, several experts have claimed.According to Mercer, the existing legislation for bringing in an improved defined contribution plan (Wet Verbeterde Premieregeling, or WVP) – with its option of variable benefits – already offered sufficient leeway for new sustainable pension arrangements in line with those discussed by unions, employers and government.Last week, negotiations about pensions reform between the three parties broke down amid disagreement on secondary issues, including increasing the state pension age and bringing self-employed workers, or zzp’ers, into the pension system.Other experts have backed up Mercer’s view, with Erik Lutjens, professor of pensions law at Amsterdam’s Free University (VU), arguing that government legislation was also not crucial for accommodating zzp’ers in the second pillar. The WVP already complied with the conditions of a “simpler, tailor-made, flexible and sufficient pension”, as set out by Jetta Klijnsma, the former state secretary for pensions, at the start of the nationwide dialogue for a new pensions system in 2015, according to actuary Marc Heemskerk.Speaking last week at a pensions seminar hosted by his employer Mercer, Heemskerk said that the current defined contribution (DC) pension plan offered by Shell Netherlands – comprising an accrual and a benefits phase but including the elements of collectivity and solidarity favoured by the unions – could act as a blueprint for a new system.Heemskerk suggested switching to a pensions system with collective accrual for individual pension capital in a DC scheme in a pool, with participants having the option of picking their individual investment mix.He highlighted that, in the accrual phase, such a “DC plan with investment choice” would lack the often disputed elements of financial buffers and discount rate for liabilities.On the other hand, participants could benefit from the strong points in the current system, such as investment scale and solidarity through sharing investment risk, mortality risk and labour disability risk, according to the actuary.In his concept, participants’ accrued individual pension rights would be gradually shifted to the benefits pool – with diversified investments and less risk exposure – between the age of 57 and 67.If they had not opted to participate in the benefits pool beforehand, they could use their capital at retirement to shop around for benefits from an insurer, explained Heemskerk.Dutch-Canadian pensions expert Keith Ambachtsheer has also voiced support for a “simpler and more adequate” pensions system with a pool for returns and a ‘safety’ pool. Theo Kocken, CardanoTheo Kocken, founder of Cardano and professor of risk management at the VU, has proposed such a set up as well. When asked by IPE, he argued that the benefits pool with shared longevity risk would be possible under the current financial assessment framework (FTK).Accrual in the return pool could take place “with less complexity and less discount rate discussions, and with less distrust among participants as a result”, he said, adding that “the options for tailor-made investments would increase”.Kocken also highlighted that pension funds could implement both pools under the current rules for mandatory participation in a pension fund.Discount rateHeemskerk also suggested that the discount rate for liabilities – currently the market rate topped up with an ultimate forward rate (UFR) – could be replaced with the higher European UFR for insurers, which he described as “an objective quantity”.He said that the application of EIOPA’s UFR would raise the average coverage ratio of Dutch pension funds from 108.6% to 114.2% at the moment.In his opinion, such an increase would not be irresponsible “as the minimum required funding, and the trigger for rights cuts, for Dutch pension funds was 104.3%, rather than 100%”.Recently, Gabriel Bernardino, chairman of EIOPA, indicated that pension funds could also apply the European UFR for insurers, as long as it complied with the local supervisory framework.However, both Dutch regulator DNB and social affairs minister Wouter Koolmees have opposed the introduction of the European UFR for pension funds, with DNB even advising insurers to be cautious using the EIOPA rate.Retirement ageThe Netherlands’ state pension (AOW) age has been set by the government at 67 and three months from 2022, with subsequent rises linked to longevity – a decision strongly opposed by trade unions.Heemskerk suggested that the dispute could be solved by taking 66 as the standard retirement age for workers facing a low pension income, usually people in hard physical jobs.AOW benefits for people with better pensions perspectives should be proportionally discounted if they decided to take their occupational pension earlier than their retirement age for the AOW, he proposed.Self-employedAt the seminar, Heemskerk also said he supported mandatory pensions accrual for self-employed workers “unless they can prove that they have sufficient pensions assets in, for example, their home or their company”.Erik Lutjens, said a high-level pensions agreement was not needed for providing zzp’ers with access to second pillar pensions.Instead, he said it could be achieved through a “simple legal change” aimed at allowing pension funds and low-cost DC vehicles (PPI) to implement pension plans for self-employed workers. The IORP II pensions directive already provided for this, he said.As an alternative, zzp’ers could be forced to join an industry-wide pension fund in their sector, Lutjens said.Meanwhile, the Dutch government has said it doesn’t expect negotiations about pensions reform to restart soon.The largest trade union FNV, for its turn, has announced industrial action, with police officers and port labourers interrupting work for 66 minutes on 13 December.Its aim is to put pressure on the government coalition through the provincial elections in March, as the county councils will then elect the new Dutch senate.last_img read more

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Gold Coast apartment block will earn its new owners big bucks

first_img The three-storey building at 6 Tallebudgera Drive has six apartments. All the apartments have been renovated inside.“It’s all on one title, that’s what makes it really attractive to investors,” he said.“Because it’s all on one title, that’s the only way it can be sold.“Right now you could rent it out for $2500 a week for the whole thing.“It’s perfect for an investment.”Mr Stafford said the owners bought the 549sq m corner property in 2016 then spent about six months renovating the building. “They bought it in a pretty miserable state (so) they vacated the property and renovated it,” he said.More from news02:37International architect Desmond Brooks selling luxury beach villa9 hours ago02:37Gold Coast property: Sovereign Islands mega mansion hits market with $16m price tag1 day ago The building is about 200m from the beach and 500m from Tallebudgera Creek. It is about 200m to the beach and 500m to Tallebudgera Creek with public transport, cafes and restaurants close by.Mr Stafford said there was lots of demand for apartment blocks in the area as opportunities to buy them didn’t come up often.“It’s very rare at the moment,” he said.The unit block will go under the hammer at Ray White Broadbeach’s in-room auction event to be held at the Sofitel Gold Coast Broadbeach on January 23. MORE NEWS: Vacant block hits market for the first time in 40 years Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:40Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:40 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD540p540p360p360p270p270pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenOpen for inspection etiquette for buyers00:41 A Palm Beach apartment block is offering investors a sweet deal.A PALM Beach apartment block metres from the surf is offering its new owners the chance to rake in $2500 a week in rent.The three-storey building at 6 Tallebudgera Drive with six two-bedroom apartments and a manager’s office will go to auction later this month.Ray White Broadbeach agent Mark Stafford said its location and income opportunity made it so appealing, particularly among investors and developers. MORE NEWS: Win a $2.3 million prize homelast_img read more

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West Indies wins final ODI but looses series to India

first_img 21 Views   no discussions Share Share Share Tweetcenter_img NewsSports West Indies wins final ODI but looses series to India by: – June 16, 2011 West Indies team members. Photo credit: dominicapassportThe West Indies have won another one day international against India.The Windies warmed up for the first test against the visitors in an impressive seven wicket success over India in the fifth and final one day international in Jamaica today.Andrew Russel captured four wickets for 35 runs to defeat India for 251, Kody scored 94 runs  Rodi 57.India lost their last wicket for 62. Then Ramnaresh Sarwan hit 75 and Darren Bravo 86 but West Indies appeared to be below the scoring rate.But Samuels with 28 from 25 balls and Keiron Pollard 24 from 13 balls sealed the win for the West Indies with 8 balls to spare.The West Indies scored 255 for 3 whilst India scored 251 however West Indies losing the series 2 games to 3.Dominica Vibes News Sharing is caring!last_img read more

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St. Louis sets donation record for Ronald McDonald House-Cincinnati

first_imgBatesville, In.— To many, a pop tab is just a piece of aluminum that opens a can. But to the folks at the Ronald McDonald House in Cincinnati these pop tabs are a valuable resource. Funds received from the Pop Tab Program last year was $25,000.00. All of that money went towards operating expenses, blankets, bedspreads, sheets, and towels. This year, SLS collected a record total weight of 312 pounds of pop tabs. To date, no other school has contributed that much. Our lifetime total weight (2011 donation weight was unavailable) is 1,984.2 pounds. That’s incredible! As the Cincinnati Ronald McDonald House is expanding, the support becomes even more important as they grow to serve all of the families from around the world that need their care.Continue to save your pop tabs throughout the year. You can drop them off in the office at any time. Thank you for your continued support with the student council Pop Tab program.Submitted by: Janet Wilsonlast_img read more

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NPFL: Rejuvenated Nasarawa United spank Enyimba

first_imgRelatedPosts NPFL: Coach Dogo leaves Sunshine Stars NFF sanctions NPFL 2019/2020 final table Nasarawa United snaps midfield maestro Nasarawa United Football Club recorded another home win in the Nigeria Professional Football League on Sunday by defeating Enyimba International of Aba 2-0 at the Lafia Township Stadium. The News Agency of Nigeria reports that the 2019/2020 NPFL Match Day 21 fixture saw hosts Nasarawa United playing with much more vigour to beat the Enyimba side. They opened scores in the 33rd minute through Chinedu Ohanachom who latched onto the ball parried away by the Enyimba goalkeeper to blast home from close range. In spite of the advantage, the home team attacked with more determination, but failed to break down the Enyimba defence till the game went on break. In the second half, both teams came out with exciting attacking options, but made no breakthrough till the 87th minute. Substitute Dauda Maigishiri received a decent pass from Haggai Katoh to place the ball in the right hand corner of the net to make it 2-0. Fatai Osho, the Head Coach of Enyimba, expressed disappointment over the loss, but attributed it to a change in team selection due to their upcoming continental fixture. Osho said: “We rested some players today (Sunday) bearing in mind we have to play that particular match, and I think in some form that affected our performance today. “But we have to congratulate Nasarawa United because they also worked hard for the victory.”Tags: Chinedu OhanachomEnyimbaNasarawa Unitednpfllast_img read more

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Luxembourg stun Northern Ireland

first_img Ferguson’s energy down the left seemed Northern Ireland’s best option in greasy conditions but Luxembourg continued to exert pressure. After Bensi found him waiting at the edge of the penalty area, Gerson opened his body and curled a shot against the crossbar with Roy Carroll beaten. It was a reminder for the visitors not to sit too deep when Luxembourg had possession. McGinn was forced off with an injury 10 minutes before half-time, with Rotherham’s Michael O’Connor summoned from the bench for his first cap in three years. Bensi continued his impressive showing with a powerful shot that required a smart reflex save from Carroll, and with the referee seconds away from blowing for half-time, Luxembourg effected a classic counter-attack on the back of two Northern Ireland corners. Joachim was the outlet, peeling off Jonny Evans and Daniel Lafferty before his shot looped off the latter and into the net. Luxembourg came out with visible intent after the break, setting up camp in the Northern Ireland half for five uninterrupted minutes. One elaborate corner routine, involving a cheeky stepover, left Mario Mutsch with a sight of goal but he could not direct his shot through a crowd of bodies. Yet Luxembourg sensed blood. Northern Irish nerves were palpable when Carroll chested McAuley’s back pass and then handled under pressure from Bensi, giving away an indirect free-kick inside the area. The ball was touched to Bensi, whose powerful shot flew just wide of the far post. With an hour gone Inverness forward Billy McKay was handed a competitive debut off the bench, Ferguson making way as O’Neill committed more men to attack. McKay had a chance to make his mark in the 69th minute, latching on to Paterson’s clever reverse flick inside the six yards box. But while his touch took the ball past the goalkeeper it also forced him wider than he would have liked, and the resulting shot thudded into the side netting. Luxembourg’s momentum was waning but they received the biggest boost of all when they took the lead with 12 minutes remaining. Antonio Luisi did well to cushion a long ball on his chest, feeding the advancing Bensi who raced forward as the defence dropped deep. He got within 25 yards before pulling the trigger, beating Carroll with a superb drive into the bottom corner. The equaliser, four minutes later, was less cultured but no less effective – McAuley getting on the end of Norwood’s free-kick and seeing his downward header creep in at the far post. Northern Ireland had lost all sense of shape now and Luxembourg could have won it when Luisi saw a certain goal charged down by Evans at the final moment. The winner still seemed likely though, and arrived in the 87th minute when Janisch stabbed home from close range following another defensive meltdown. Northern Ireland were humbled 3-2 by lowly Luxembourg as Mathias Janisch grabbed a late but deserved winner at the Stade Josy Barthel. Press Association Luxembourg had won just three World Cup qualifiers in their history before this match, the last of them at home in 1972, but were full value for three points as Northern Ireland turned in a turgid display. Martin Paterson had put his side ahead against the run of play and Gareth McAuley looked to have snatched a draw in the 82nd minute, but in between goals from Aurelien Joachim and Stefano Bensi gave a fairer representation of the match. So porous was the visiting defence that a winning goal felt almost inevitable and it arrived when Janisch poked his shot through a mass of bodies in the 87th minute. For Northern Ireland boss Michael O’Neill it will surely feel like much of the good work achieved in beating Russia last month and running Portugal close last week has now evaporated. Northern Ireland almost cashed in on an under-hit back pass inside 30 seconds, Jamie Ward chasing down unsuccessfully, but otherwise the hosts looked in greater control in the opening stages. They had most of the early possession and Daniel Da Mota – a scorer in the 1-1 draw at Windsor Park – rode Oliver Norwood’s challenge before bending a hopeful effort off target. Lars Gerson headed a teasing corner wide before Bensi produced a mazy run into the box, but it was Northern Ireland who scored against the run of play. Shane Ferguson spotted a gap in the home defence and found the alert Paterson when he drifted into it. The Huddersfield striker took a touch to get the ball out of his feet and then finished emphatically with his left boot. It was the 26-year-old’s third international goal and second in his last three appearances following his winner against Russia. last_img read more

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Wenger could seek new striker

first_img Bendtner had been seen as a solid back-up to lead frontman Olivier Giroud and came off the bench to score a late goal which helped beat Cardiff on New Year’s Day, only to sprain his ankle in the process as the Gunners moved back to the top of the Barclays Premier League. Arsenal are examining the full findings of a scan, and following further consultation with specialists, Wenger is likely to have a clearer idea of the diagnosis by the time he faces the media again after Saturday’s FA Cup third-round tie against Tottenham at the Emirates Stadium. Wenger accepts whatever option he eventually decides, January is not the best time to try to land the ideal target. “Honestly, you want to keep your chances in the season at the best possible level. Is it for short term or a stop-gap? Ideally, you want a longer solution, but a longer solution looks much more difficult to find in January than a short gap,” the Arsenal manager said. “You can find a solution somewhere – a club that has financial trouble and wants to get rid of a big contract for five or six months, but to find in January exactly the player who will be tomorrow’s star on the longer term is much more difficult.” Giroud missed the 2-0 win over Cardiff because of his own minor ankle problem and has now also been hit by a sickness bug, so is not expected to play in the north-London derby. Summer signing Yaya Sanogo, meanwhile, is only just recovering from a back injury. Arsenal do have German forward Lukas Podolski fit again, but he looked rusty when deployed in a central role against the Bluebirds. Given Arsenal’s lack of extensive cover, Wenger understands should Denmark forward Bendtner – who had looked on the verge of leaving the club in the summer window – be set for a prolonged spell of rehabilitation, then the club will have no choice but to bring in reinforcements “If it is a question of up to three weeks, okay, but if it is a question of months (then) the situation is quite (different), so that is what we have to determine,” said Wenger, who played down reports Arsenal were closing in on a £2million move for Dimitar Berbatov. “We don’t rule anything out. “If Bendtner is out for a long time, that is the obvious position. We (would) have to (buy).” As well as Berbatov, Arsenal had been linked with a big-money swoop for Atletico Madrid striker Diego Costa. Arsenal manager Arsene Wenger accepts the club will have to buy a new striker in the January transfer window if Nicklas Bendtner’s ankle injury proves a long-term problem. Press Associationlast_img read more

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Lady Mariners Fall to UMaine Farmington

first_img Bio Latest posts by admin (see all) This is placeholder textThis is placeholder text admin Hancock County Court News Nov. 3 thorugh Dec. 11 – January 22, 2015 House fire in Winter Harbor – October 27, 2014 State budget vs. job creation – January 22, 2015 Nicole Poland of the Mariners makes a diving catch in centerfield.—MIKE OLESThe Lady Mariners dropped two games to the UMaine Farmington Beavers on Saturday, losing 6-0 and 12-3 in a North Atlantic Conference double header at Ritchie Field. The Lady Mariners fall to 2-11 on the year and 0-4 in the NAC, while the Beavers improve to 3-5 and 2-2 in the NAC.Maine Maritime’s only hit in the first game came in the 7th inning when Megan Russell (Peru, ME) laid down a bunt single to break up the no-hitter. Mallery Stanley (Standish, ME) gave up 9 hits and 3 walks, taking the loss for MMA. In the second game, Kayla Higgins (Sullivan, ME) led the MMA offense, going 2 for 2 with 2 home runs and all 3 MMA RBI’s. Mallery Stanley took the loss for MMA, giving up 15 hits over 5 innings. For complete story, pick up a copy of The Ellsworth American. Latest Postslast_img read more

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Program helps veterans adapt to life in college

first_imgIt was November 20, 2010, the last football game of the season at Harvard Stadium. The outside linebacker for Yale University, Jesse Reising, was about to leave college with his life planned out — following graduation, Reising was slated to enter the Marine Corps. In a matter of seconds, his plans would be derailed.With just 10 minutes left in the final quarter, Reising saw the Harvard running back head toward him. He distinctly remembers that his shoulder pads were too low. Before he knew it, he was lying on the 27-yard line, barely conscious. The impact had detached two nerves in his neck, and paralyzed his right arm above the elbow, shattering his hopes of joining the Marines.Reising soon found another way to serve his country, through helping veterans assimilate into college. He connected with veteran and fellow Yale graduate Christopher Howell to create the Warrior-Scholar Project, which came to USC last summer.Partnering with 11 top-tier colleges such as Yale and Vassar College, the Warrior-Scholar Project was established as a skill bridge between enlisted service to college.Even though the government provides monetary support for veterans in the G.I. Bill, it is not clear how many of them graduate from college. The Warrior-Scholar Project recognizes that receiving a degree requires not only the opportunity, but also  the ability to adjust to academia. For veterans that enlisted out of high school, the gap between institutions makes it difficult for them to transition back into school, especially college.“Over 40 percent of post-GI dollars are finding their way to private, for-profit college industries,” said Sid Ellington, the executive director for the Warrior-Scholar Project. “Most of these people are really smart, very capable. They just aren’t prepared to take full advantage of the opportunities of higher education.”The program works like an academic boot camp every summer, lasting from one to two weeks. It focuses on two types of skills: tactical and strategic.Tactical skills include things like breaking apart a syllabus, time management and taking notes efficiently. Strategic skills, also known by the scholars as “engi-reading,” are taught by professors at the University.The professors teach about liberty and democracy from the perspectives of their own disciplines, such as international relations, political science, law, philosophy or English, making analytical reading and writing easier for veterans to identity with. Veterans of all different demographics are selected.“There were some people still going through medical treatment. There were veterans that were retired 15 or more years. The ones that were enrolled in college were from both four-year and community college,” said Tina Fleming, a tutor at the USC Warrior-Scholar partnership.The program director of the Warrior-Scholar Project at USC is Jesse Ramirez, a junior majoring in political science. Originally from Chicago, Ramirez moved to Los Angeles to be closer to his brother, who was stationed in San Diego with the Marines. He attended Santa Monica College for two years before transferring to USC. At the University, he started working for the Veterans Resource Center and was invited by his supervisor to attend a veteran issues meeting, where the opportunity for the Warrior-Scholar presented itself“A veteran myself, I’ve always worked with other veterans. so it’s a very close community,” Ramirez said. “I resonate with all of their struggles — I was in a position where I needed help and that help wasn’t available.”The program at USC was carried out for the first time last summer with 14 students and lasted for about a week. In the morning they were taught by USC faculty, then spent the rest of the day in critical thinking and critical writing courses interspersed with talks about the college application process, visits to the library, and other aspects of university life. According to Fleming, with this rigor came some difficulties.“The material that they read is really heavy, and the immersion process for students definitely isn’t easy,” Fleming said. “There are moments when people break down or feel like they just want to walk away because it’s really intense, and they might not get too much sleep. But in the end, the majority of people are satisfied, and the program really promoted USC by having the students come to campus and learn through USC professors.”The idea for the program coming to campus was first proposed by the chairman of the Board of Trustees, John Mork, who heard about it from a veteran who works for him. Mork asked Provost Michael Quick to consider supporting it, and eventually USC became the first West Coast school to join the program. Mark Todd, vice provost and manager of the WSP branch at USC, said that he finds the most rewarding part of the program to be the reciprocation for the service veterans have provided us through education.“What is most rewarding to me, [is]that we offer the best of what USC has, to help those who have sacrificed so much to serve us,” Todd said. “They come away believing that they can really succeed at a university like USC. It is powerful.”last_img read more

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Clarion Gaming announces new consolidated event iGB Live

first_imgShare StumbleUpon iGB Live postponed due to COVID concerns July 31, 2020 Kambi and DraftKings agree on final closure terms July 24, 2020 Submit Kambi takes control of Churchill Downs BetAmerica sportsbook August 28, 2020 Share Related Articles Clarion Gaming has announced that the iGaming Super Show, EiG, and the Amsterdam Affiliate Conference will come together for a new consolidated event, iGB Live. The creation of iGB Live is part of the commitment made by Clarion to streamline the events calendar and provide stakeholders with the opportunity to engage across the entire iGaming space at a single event.Event Director, Shona ODonnell, who brought the iGaming Super Show to market eight years ago said: “Our pledge is to deliver a global events, knowledge and training strategy to what is a global industry. This involves exploring how we can deploy the power and influence of our brands to best effect on behalf of our customers.“From speaking with the market we know how much importance it places on reducing the volume of business events currently on the calendar but at the same time raising standards and improving ROI. The iGaming Super Show, EiG and the Amsterdam Affiliate Conference will retain their individual personalities, identity and vision that have made them three of the best known and respected brands in gaming. “This strategic move will enhance the value and appeal of attending what will be the biggest dedicated iGaming exhibition and conference for the industry and one which is guaranteed to meet stakeholder needs from a networking, education and business perspective.”She added: “The feedback to iGB Live from all sectors of the business – affiliates, operators, suppliers and regulators – has been extremely positive: our job now is to get on with the important business of delivering best value to our customers courtesy of a clearly considered and joined up strategy.  I am extremely passionate about the future of the brand and excited about overseeing its development. I want to take this opportunity to thank everyone that has supported our events over the years and look forward to discussing the developments with them all at EiG where I will be available to discuss and take feedback.”Tom Light, Vice President of Business Development at SBTech said: “EiG and the iGaming Super Show have been high quality events for many years and bringing them together under one roof will enable delegates and sponsors to meet even more key players in the affiliate and B2B space. SBTech is delighted to support and sponsor the event and make it even more of a must-attend for everyone in the igaming sector.”The first iGB Live, incorporating the iGaming Super Show, EIG and the Amsterdam Affiliate Conference, will take place 17 – 20 July 2018 at The Amsterdam, RAI.last_img read more

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