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888 HOLDINGS CLARIFIES SPANISH TAX IT WILL PAY
Thursday May 24, 2012 : 888 HOLDINGS CLARIFIES SPANISH TAX IT WILL PAY
It's beginning to look as if all the big guns are resigned to paying the Spanish back-tax.
Amid speculation by some analysts that it's tax bill for Spain could go as high as $20 million, a 888 Holdings source told the Reuters news agency this week that in fact it will be less than half that.
888, along with other industry giants like Bwin.Party, Sportingbet and Betfair have all indicated they are prepared to pay up to the Spanish taxman in return for operating licenses in the new regulatory dispensation starting June 1st.
Earlier this week, rival Bwin.Party digital said it would pay about $42 million to settle its back-tax bill, while Sportingbet said it had paid $22 million, and Betfair said it would pay not more than $12.6 million.
Reuters reports that 888 has around 6 percent of its operations in Spain.
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Gambling News :
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
Singapore Online Gambling Ban Begins -
Singapore media reports indicated Tuesday that restricted online gambling services offered by the Singapore Pools have started online operations, whilst Singapore Turf Club will commence online betting activity on November 15.
Pennsylvania Online Gambling Updates -
Pro-online gambling companies, including the Golden Nugget in New Jersey and Pokerstars, were quick to refute Schippers views based on their operational experience.
WSOPE In Czech Republic -
World Series of Poker Europe 2017 has moved to King’s Casino Rozvadov (KCR) in the Czech Republic following a multi-year deal that will see KCR host numerous WSOP-branded events over the next several years.
BtoBet Partners with AfroBet -
Following the launch in Kenya, Afrobet said it has high hopes for further expansion into East Africa, Tanzania, Uganda and Congo.
Pissed off Tabcorp shareholders -
A significant number of Tabcorp shareholders, led by The Australian Shareholders Association, reportedly objected to proposed hikes in executive pay packages and were unhappy with the company plans for a merger with rival gambling group Tatts.
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