Playtech Owes Tax to Israel

Following a recent civil tax audit of Playtech in Israel, the online gambling tech company now has to pay a further $32m in taxes to the Israeli taxation authority.

The bill covers the period spanning from 2008 up to 2017. The two parties came to an agreement on the amount on 31 December.

Not out of the blue

In December 2018, Playtech issued an earnings warning to investors for 2019 as a result of increases in taxes in the areas in which it operates. It estimates that this would add up to $28m to its yearly tax bill.

The company is now entering into the recently opened-up Swedish gambling market after receiving a license for its Quickspin subsidiary. It is also part of the launch of the first licensed online casino in Poland.

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