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MyLotto24 Gets Tax Refund

Saturday March 5,2016 : SPANISH TAXMAN REFUNDS MYLOTTO24
 
Euro 9.6 million back into company coffers.
 
MyLotto24 received a boost to its funds this week when the Spanish taxman refunded the company Euro 9.6 million contributed as a lottery withholding tax on a large jackpot win at the company.
 
Announcing the refund, parent group Zeal Network said the payment will have a positive impact on the company's financial metrics relating to the year 2015.
 
Zeal took the opportunity of the good news announcement on tax to reveal less palatable advice regarding its expensive involvement in the geography-based  online lottery Geonomics Global Games Limited and its subsidiary Geo24 UK Limited, concluding that it no longer supports the carrying value of Zeal’s investment.
 
That will result in a non-cash impairment charge of Euro 19 million, which will be recorded in Zeal's consolidated income statement for 2015, and this will impact net profit, the company announced.
 
Zeal (then Tipp24) made an initial investment of Euro 10 million in Geonomics (formerly Roboreus) four years ago, acquiring a 25.7 percent stake, and has been working with founding brothers Henry and James Oakes to try and build a viable business out of the operation, which is based in London and employs 40 designers and software engineers.
 
our readers will also recall that Geonomics sold its end-user product to the Atlantic State Lottery Corporation, a lottery organisation representing several small Canadian provinces. The project became mired in a political, tribal and business scandal that eventually saw it dropped.

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Gambling News :

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

Secret Symbol Slot - RTG will soon release 'Secret Symbol', a 5 Reel Video Slot on 3/15/2017.

Microgaming is set to release three exciting new games in March - Pollen Party will literally have players buzzing with excitement as the ground-breaking, 720 way variable reel online slot is brought to life in a unique honeycomb reel layout.

NBA Odds: Resurgent Clippers Face Warriors in Oakland - After a much-needed lineup shuffle, the Los Angeles Clippers (29-27 SU, 35-21 ATS) carry a four-game SU and ATS winning streak into Thursday’s game against the best team in the NBA, the Golden State Warriors (47-9 SU, 27-27-2 ATS). Tip-off is at 10:30 PM ET on TNT.

NBA Odds: New-Look Pelicans Host Rockets on Thursday - The New Orleans Pelicans just hosted the All-Star Game and saw their very own Anthony Davis win the MVP. But the celebration was brief because the next day, the Pelicans made a huge trade,

PokerStars.CZ has launched in the Czech Republic - PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republic’s new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.

Luckia Games in Partnership with NYX Gaming Group - NYX will provide Luckia with its open gaming system, NYX OGS, and open platform system, NYX OPS, to support the growth of its established Spanish operation.

Sunbets to Sponsor Sutton United - Online betting operator Sun Bets has inked a one-off sponsorship deal with English association football club Sutton United for its upcoming televised clash against Arsenal FC in the FA Cup fifth round tie.

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