Industry News
Paddy Power Betfair to appeal penalty of €55 million

Paddy Power Betfair has announced that it will appeal against the tax bill of €55m slapped against its German and Greek businesses.
The first fine of €40m concerns the Betfair Exchange in Germany, which was operational up to November 2012, while the second of €15m relates to the paddypower.com business in Greece.
The Hessen Fiscal Court provided Paddy Power Betfair with a decision relating to the group’s appeal of a 2012 German tax assessment relating to the Betfair Exchange. The Fiscal Court found against the Group and deemed that a tax liability of €40m is payable, including accrued interest.
Paddy Power Betfair says this represents a multiple of the revenues generated by the Exchange during the assessment period. Separately, the group was recently issued with a Greek tax assessment for financial years 2012, 2013 and 2014, relating to paddypower.com’s Greek interim license.
Paddy Power Betfair stated: “The Group strongly disputes the basis of these assessments, and in line with the legal and tax advice we have received, is confident in our grounds to appeal. We therefore intend to do so. Pending the outcome of these appeals, we paid the total Greek liability in January 2019 while we await clarity with respect to the timing of any cash payment in Germany.”
-
Africa7 days ago
Play’n GO takes games portfolio live with the Goldrush Group in South Africa
-
Africa6 days ago
DRC Signs MoU for Public-Private Partnership with Burundi’s East African General Trade Company
-
eSports6 days ago
Esports World Cup 2025 Unveils Official Song of the Year and Full Opening Ceremony Line-up
-
Africa6 days ago
Springbok Casino Unveils “Krugerassic Park” Featuring Dino-Wilds to Celebrate Jurassic World: Rebirth Sequel – Plus 25 Free Spins on T-Rex 2 slot
-
Asia6 days ago
LGUs, state university get Php20-M emergency vehicles from PAGCOR
-
Latest News7 days ago
PG Soft serves up Diner Frenzy Spins
-
Africa7 days ago
ALA Hosted Seminar on Artificial Intelligence and Cybersecurity
-
Latest News7 days ago
Juicy Wins, Crystal Clear: ELA Games Releases New Luxury Title