Amaya Inc settles PokerStars Italian tax dispute

ItalyToronto listed Amaya Inc has confirmed that it has paid €5.9 million (£4.3 million) as a final settlement to the Italian tax authorities.

The settlement relates to subsidiary PokerStars ongoing tax dispute with Italian regulators, which had seen the firm investigated by the Guardia di Finanza (Italian Financial Police) in 2015.

Italian gambling regulators had claimed that PokerStars had approximately owed €85 million in tax charges for servicing Italian operations between 2009 and 2014.

In March 2015 the Guardia di Finanza had accused PokerStars Italy of not declaring on an estimated €300 million of taxable revenues.

Issuing a short statement this morning, Amaya governance confirmed that the payment represented it’s a settlement on the matter.

“The agreement represents a final settlement of the matter and the payment includes all amounts owing to Italian authorities for the periods at issue. In addition, as part of the settlement the subsidiary does not owe any additional taxes for the 2014 tax year.  The entire settlement amount and related expenses have been paid from the escrow fund established under the merger agreement governing Amaya’s acquisition of the PokerStars business.”

Check Also

PokerStars bolsters sports marketing via Red Bull Racing linkup

Flutter Entertainment’s igaming brand PokerStars has strengthened its sports-oriented brand recognition by partnering with Red …

IGT sheds Italian weight offloading Lottomatica B2C units to Gamenet SPA

IGT overhauls leadership as Marco Sala takes over Chairman duties

IGT Plc has executed an executive team and boardroom reorganisation, as Group CEO Marco Sala …

Winning Post: Appeasement on advertising helps nobody

Regulus Partners warns that early 2022 regulatory developments have set a dangerous precedent on the …