Tax Case Affects Amaya Share Price

Mar 14, 2015
Tax Case Affects Amaya Share Price
Italian financial police revealed this week that it is investigating the possibility of a Euro 300 million tax evasion case involving Amaya Gaming, which has driven down Amaya share prices. PokerStars and Amaya have quickly responded with statements noting that the alleged offences took place before it Amaya took ownership and that the company has been cooperative with investigations. Communications Chief Eric Hollreiser said: "PokerStars has been working with Italian tax authorities since they launched an audit several years ago. We have operated in compliance with the applicable local tax regulations and have paid Euro 120 million over the period covered by the audit. "Like many other global e-commerce companies, we vigorously dispute the stance of the tax authority regarding local establishment. The audit is ongoing and we hope to resolve the issue in our favor soon." A bald statement from the Italian authorities does not constitute a final ruling against the company, and this issue may have a way to run yet.
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