Playtech Agrees to Pay €28 Million to Israeli Tax Authorities

This story was published more than 1 year ago.

Internet betting software group Playtech announced that they have come to an agreement with Israels's tax branch and will pay out €28 million to the authorities.

The payment covers taxes for activity between the periods of 2008 to 2017, which were mainly based out of the country. The settlement comes after the company was audited by authorities, and Playtech was keen to get a settlement together to avoid any tax penalties. The payment will be made in the next 30 days, and will count the charge as an exceptional expense.

Playtech is looking at increased costs as more markets become regulated in the new year. Playtech has cited Italian gaming regulation overhauls as having the potential to lower their EIBTDA to €20 million to €25 million for the new year.

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Therese Williams // UK Correspondent
Therese Williams
Therese is a fervent fan of slot machines and pub fruities, often trying her luck at some of the top online casinos. She covers news for Casino Listings with a focus on the UK and Europe. Therese studied arts and creative writing at university and has written for newspapers in the UK.
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bgsharpe
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3 January 2019 - 6:35pm
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For a 9 year span in which they've operated there it doesn't sound those 28mill to be that huge of a sum,I guess Playtech arranged themselves a pretty good settlement and the Israel state itself would be happy they'd get anything at all.