Playtech plc (LON:PTEC) noted that on Sunday 23 December 2018 the Italian Senate 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.
The legislation is scheduled to take effect from 1 January 2019 and Playtech currently estimates that this is expected to reduce its 2019 Adjusted EBITDA by approximately €20-25 million before any mitigating actions.
The expected impact from this legislation is in addition to the previously announced impact from the 2018 Dignity Decree.
