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Betsson to Settle Tax issue with German Government
Wednesday February 3,2016 : BETSSON TO SETTLE HISTORICAL TAX WITH GERMAN GOVERNMENT
To pave the way for the potential award of a gaming license.
Betsson is submitting a tax return for historic tax on sport betting to the German Government amounting to around SEK 113 Million (GBP 9,180,359).
The company said while it still maintains it is not liable to pay historic tax, it believes there will be considerable opportunities in a future regulated German gaming market of which it aims to be a part of with the submission of an application for a gaming license as soon as the process becomes available.
Betsson is making the payment to avoid negative repercussions in future dealings and applications with German gaming authorities for entry into a market it believes may become one of the largest in Europe but says it still intends to legally challenge the tax liability.
Following the initial payment of historical tax, the company will submit returns for turnover-based gaming tax amounting to 5 percent of German players stakes each month going forward.
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Ninja Power Slot Launched By Slotland -
I think our players will be inspired by the ninja warrior characters the game designers have created,” said Slotland manager Michael Hilary. “These warriors fought hard, gave it all they had. Quitting wasn’t an option.
WILL JACK LAM RETURN TO THE PHILIPPINES TO TURN HIMSELF IN? -
The Philippines online gambling and bribery scandal keeps throwing up new developments almost daily, with the latest a report that Macau-based online gambling tycoon - the man at the centre of the furore - has put out tentative "surrender" feelers.
Stephen Conroy appointed head of new responsible gambling grou -
Conroy retired from politics in September after a 20 year career, and has now been appointed head of Responsible Wagering Australia, a new responsible gambling industry body backed by online gambling operators CrownBet, Sportsbet, Betfair, Unibet and Bet365.
SquwaKa To Enter sports betting sector -
Football digital content platform SquwaKa will be entering the sports betting sector with the launch of a new FSB Technology built and powered sports betting service to sit alongside its fantasy sports offer.
RaceBets Acquired by Betsson -
Niche operator #RaceBets complements #Betsson offering with a proprietary horse racing product and an experienced horse betting trading team.
Playtech buys back 780,000 shares -
Playtech's advisory earlier this week that it is to embark on a Euro 50 million share re-purchase initiative has been quickly followed by a notification from the company that it has bought an initial tranche of 780,000 shares at prices ranging between 797.75 and 816.63.
Cash In Roulette -
The relatively new online gambling games developer Be The House, has announced that it is to launch its unique Cash In Roulette product with William Hill Online.
EveryMatrix in game deal with Endorphina -
#EveryMatrix Prague-based online slot developer Endorphina has found a new outlet for its games, signing a content supply agreement with white label provider EveryMatrix.
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