Playtech, Gaming giant says it is facing an additional tax bill of up to €25m after the Italian Senate yesterday approved the country’s revised budget in accordance with the deal agreed with the European Commission last week.
This curbs the administration’s spending plans, lowering Italy’s 2019 deficit target from 2.4% to 2.04% now passes to the lower house for final approval.
The legislation seeks to increase taxation on various types of gambling activities. Tax on AWP gaming machines and video lottery terminals will rise from January 1, while there are also increases in betting tax, to 20 percent and online gaming taxes to 24 percent.
Playtech said in a statement, “It currently estimates that this is expected to reduce its 2019 adjusted EBITDA by approximately €20-25 million before any mitigating actions.