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PARTY COMMENTS ON SPANISH ONLINE GAMBLING TAXATION ISSUE

Monday May 21, 2012 : BWIN.PARTY COMMENTS ON SPANISH ONLINE GAMBLING TAXATION ISSUE
 
Online gambling giant expects to pay Euro 33 million in tax
 
Europe's biggest online gambling operator, Bwin.Party digital entertainment, has issued a statement explaining its position on Spanish market regulatory and taxation issues, noting that:
 
• Spain is expected to issue eGaming licences for all products (except slots) at the beginning of June 2012
 
• The Spanish tax authority has required that online operators with customers in Spain pay back-taxes under two historic laws that previously were not applied to offshore online gaming
 
• Having completed a tax self-assessment in accordance with the Spanish tax authority’s requirements, the Group intends to make a payment of up to Euro 33 million (including surcharges and interest)
 
• The payment is intended to secure the Group’s position in Spain in the context of its application for eGaming licences
 
"Some weeks ago, the Spanish tax authority contacted all of the major online gaming operators and made clear that, in their opinion, any online operator that has ever accepted customers from Spain has an obligation to pay Spanish taxes under two laws, one dating from 1966 and the other from 1977," a Bwin.Party spokesman explained this week.
 
"Previously these laws were applied to operators based in Spain carrying out offline gaming activities and to certain kinds of bets (other than fixed odd bets).
 
"As a result, together with a number of other operators we have today completed a tax self-assessment in accordance with the Spanish Tax Authority’s requirements and as a result are making a payment of Euro 25.6 million plus surcharges and interest of up to Euro 8 million.
 
"Having taken these steps, we believe we have now fulfilled all requirements and look forward to receiving our licence and entering the Spanish market."



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Oink Country Love Slot Launches - Oink Country Love will have players tapping their feet to the country beat with the lovable Oink Bros, Willy and Chancho, who are trying to win over the heart of Miss Southern Charm in this five by three reel, 45-line online slot.

Tim Chung Wins MPNPT Manchester - The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.

MPNPT Manchester Day 2 - Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.

Day 1B MPN Poker Tour Manchester - Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.

Day 1A MPNPT Manchester - The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days

Kung Fu Rooster Slot Goes Live - Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.

Sensational Sixes Slot Goes Live - Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!

3 New Betsoft Slots - 3 new Betsoft slot Games were also added this week to most online casinos allowing US players.

2017 Bodog Super Millions Poker Open - The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.

Pokerstars Pulls Out Of Coloumbia - Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.

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