Playtech PLC Israel Tax Agreement (8689L)
January 02 2019 - 2:00AM
UK Regulatory
TIDMPTEC
RNS Number : 8689L
Playtech PLC
02 January 2019
Playtech PLC
('Playtech' or the 'Company')
Israel Tax Agreement
Playtech plc announces that following a civil tax audit covering
the 10 fiscal years 2008 to 2017 (inclusive), the Israeli tax
authorities have made transfer pricing adjustments in relation to
certain functions performed by the Playtech group in Israel during
this period.
The Playtech group reached an agreement with the Israeli tax
authorities on 31 December 2018 as follows:
- for the years 2008 to 2017, the Playtech group will pay
additional tax of approximately EUR28 million;
- no penalties are to be imposed as a result of the audit; and
- the agreement covers the entirety of the Playtech group's activity in Israel.
This additional tax charge will be reflected as an exceptional
item in Playtech's 2018 accounts and payment is expected to be made
in the next 30 days.
- ENDS -
For further information please contact:
Playtech plc
Chris McGinnis, Director of
Investor Relations and Strategic
Analysis
James Newman, Director of Corporate
Affairs +44 (0) 16 2464 5954
Headland (PR adviser to Playtech)
Lucy Legh, Stephen Malthouse +44 (0) 20 3805 4822
About Playtech
Founded in 1999 and premium listed on the Main Market of the
London Stock Exchange, Playtech is a market leader in the gambling
and financial trading industries.
Playtech is the gambling industry's leading technology company
delivering business intelligence driven gambling software,
services, content and platform technology across the industry's
most popular product verticals, including, casino, live casino,
sports betting, virtual sports, bingo and poker. It is the pioneer
of omni-channel gambling technology through its integrated platform
technology, Playtech ONE. Playtech ONE delivers data driven
marketing expertise, single wallet functionality, CRM and
responsible gambling solutions across one single platform across
product verticals and across retail and online.
Playtech partners with and invests in the leading brands in
regulated and newly regulated markets to deliver its data driven
gambling technology across the retail and online value chain.
Playtech provides its technology on a B2B basis to the industry's
leading retail and online operators, land-based casino groups and
government sponsored entities such as lotteries. As of June 2018,
through the acquisition of Snaitech, Playtech directly owns and
operates the leading sports betting and gaming brand in online and
retail in Italy, Snai. Snaitech operates a B2B2C model as a service
provider to franchisees in the retail market while operating the
leading brand, Snai directly online as a B2C business.
Playtech's Financials Division, named TradeTech Group, is a
technology leader in the CFD and financial trading industry and
operates both on a B2C and B2B basis.
Playtech has in total c.5,800 employees across 17 countries and
is headquartered in the Isle of Man.
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END
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