Playtech sees €20m-€25m hit bfrom Italy gambling tax

24th Dec 2018 07:24

(Sharecast News) - Online gaming company Playtech said new Italian gambling taxes would hit adjusted earnings before interest, tax, depreciation and amortisation by about €20m-€25m.The Italian Senate on Sunday passed the government's 2019 budget which includes legislation to increase taxation on various types of gambling activities.The legislation is expected to receive final approvals, including from the Chamber of Deputies, before the end of 2018, Playtech said.The profit hit is in addition to the previously announced impact from the 2018 "Dignity Decree" banning all gambling-related advertising and sports sponsorship in the country from next year.