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NEWS 2 January 2019

Playtech agrees to pay £25m to Israeli tax authorities

By Nathan Joyes

Playtech has agreed to pay Israeli tax authorities £25m ($31.7m) following an audit that investigated its accounts over the past ten years.

The supplier announced it would pay the figure within the next 30 days, resulting from its activities in Israel, beginning in 2008 up until 2017.

This additional tax charge will be put down as an exceptional item in its 2018 accounts.

Playtech announced its adjusted EBITDA for the year would be between £285m - £323m as of November, although it expected Asia sales would fall by almost half.

In December, the company admitted the change in gambling tax laws in Italy would see a reduced adjusted EBITDA for 2019 by approximately £20m. This legislation came into place on 1 January.

RELATED TAGS: Legal & Regulatory
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