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Gambling: Ladbrokes getting 80 Million Tax Refund
4/21/10 - The Brit land and online gambling company Ladbrokes is looking forward to a major windfall of GBP 80 million (around $123 million) following a settlement with UK tax authorities, it announced this week.
The settlement covers substantially all the outstanding items in the tax years through to December 2007, and will result in the recognition in the 2010 income statement of a GBP 262 million tax credit in relation to prior years.
The finance charge in 2010 will also be reduced by around GBP 20 million to reflect the interest consequences of the settlement.
Ladbrokes said its guidance for the effective accounting tax rate over the medium term remains unchanged at 19 percent, but that it expects the cash tax rate over the same period to fall to about 15 percent to reflect the utilisation of tax losses.
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IGT Continues Partnership with Coljuegos EICE -
IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.
Magic Spells SLot Launches -
The penny slots’ Wild symbol is a bubbling cauldron which is an Expanded Wild that can cover up to four positions for multiple winning combinations.
Lightning Box Games in Deal With Everi Games -
Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.
Another Attempt to Acquire Tatts -
The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer
Ladbrokes Trading Update -
The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:
Leovegas Player Wins a BMW X4 -
A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.
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