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Tax refund windfall For CentreBet
Thursday August 18,2011 : TAX CASE COULD SUPPLY A BOOST TO CENTREBET
A$90.7 million refund of sales tax in prospect
The Australian media are reporting that a possible tax refund windfall could be in sight for the Aussie online betting firm Centrebet.
The company has been pursuing a refund of sales tax worth A$90.7 million through the federal courts, and this week issued a statement claiming that it has been advised by the Commissioner of Taxation that he has decided not to appeal against an earlier and similar case won by fellow betting company Sportsbet.
"Further, the commissioner's solicitors have informed Centrebet Pty Ltd that they are instructed that he will not re-argue the issues in the Centrebet proceedings," the statement advises.
The Sportsbet litigation involved a refund claim on GST paid between 2005-2009 amounting to some A$36 million.
Both Australian companies have been the subject of acquisition moves by Paddy Power (Sportsbet) and Sportingbet (Centrebet).
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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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