Playtech PLC Israel Tax Agreement (8689L)

TIDMPTEC

RNS Number : 8689L

Playtech PLC

02 January 2019

Playtech PLC

('Playtech' or the 'Company')

Israel Tax Agreement

Playtech plc announces that following a civil tax audit covering the 10 fiscal years 2008 to 2017 (inclusive), the Israeli tax authorities have made transfer pricing adjustments in relation to certain functions performed by the Playtech group in Israel during this period.

The Playtech group reached an agreement with the Israeli tax authorities on 31 December 2018 as follows:

- for the years 2008 to 2017, the Playtech group will pay additional tax of approximately EUR28 million;

   -      no penalties are to be imposed as a result of the audit; and 
   -      the agreement covers the entirety of the Playtech group's activity in Israel. 

This additional tax charge will be reflected as an exceptional item in Playtech's 2018 accounts and payment is expected to be made in the next 30 days.

- ENDS -

For further information please contact:

 
 Playtech plc 
 
  Chris McGinnis, Director of 
  Investor Relations and Strategic 
  Analysis 
 
  James Newman, Director of Corporate 
  Affairs                                [phone] 
 
 Headland (PR adviser to Playtech) 
 
  Lucy Legh, Stephen Malthouse           [phone] 
 
 

About Playtech

Founded in 1999 and premium listed on the Main Market of the London Stock Exchange, Playtech is a market leader in the gambling and financial trading industries.

Playtech is the gambling industry's leading technology company delivering business intelligence driven gambling software, services, content and platform technology across the industry's most popular product verticals, including, casino, live casino, sports betting, virtual sports, bingo and poker. It is the pioneer of omni-channel gambling technology through its integrated platform technology, Playtech ONE. Playtech ONE delivers data driven marketing expertise, single wallet functionality, CRM and responsible gambling solutions across one single platform across product verticals and across retail and online.

Playtech partners with and invests in the leading brands in regulated and newly regulated markets to deliver its data driven gambling technology across the retail and online value chain. Playtech provides its technology on a B2B basis to the industry's leading retail and online operators, land-based casino groups and government sponsored entities such as lotteries. As of June 2018, through the acquisition of Snaitech, Playtech directly owns and operates the leading sports betting and gaming brand in online and retail in Italy, Snai. Snaitech operates a B2B2C model as a service provider to franchisees in the retail market while operating the leading brand, Snai directly online as a B2C business.

Playtech's Financials Division, named TradeTech Group, is a technology leader in the CFD and financial trading industry and operates both on a B2C and B2B basis.

Playtech has in total c.5,800 employees across 17 countries and is headquartered in the Isle of Man.

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January 02, 2019 02:00 ET (07:00 GMT)