May 14, 2012

Last minute tax surprise

Weeks before online gambling licenses are to be handed out, Spanish authorities have sprung a potentially game-changing surprise. They are demanding that applicants pay backdated tax for the last four years.

The poker information site Pokerfuse reports that some of the largest operators in Spain could face massive financial demands as a consequence, naming Bwin.Party (Euro 60 million), Sportingbet/Miapuesta (Euro 50 million) & PokerStars as much as Euro 200 million. Sources have told the poker information site that whilst Pokerstars is considering paying up, other operators could find the demands too heavy & withdraw their applications for licenses.

The new four year tax requirement now being imposed by the political changes of a new Spanish government will obviously impact the financial & business calculations & plans of licensees.

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