Gambling software firm Playtech faces £22m profits hit after Italy raises taxes on online casinos and bookmakers
Taxes on slot machines, online casinos and bookmakers are set to come into force in Italy next year
Playtech faces a £22million profits hit as gambling taxes in Italy rise.
Taxes on slot machines, online casinos and bookmakers are set to come into force next year.
Playtech, which makes gambling software, said the hit to earnings could be between £18million and £22million, on top of an advertising ban also introduced in Italy this year.
In November, it said its 2018 earnings would be between £287million to £323million.
This year, it bought a majority stake in Snaitech, an online sports betting and gaming brand in Italy, for £760million. It reported around £54million in sales from Snaitech in the first half.