888 settles Spanish tax liability

THE ONLINE BETTING AND GAMING SITE 888 has settled a €7.4m (£5.9m) gaming duty liability with the Spanish government.

The payment has been made for operations between January 2009 and May 2011 and may now qualify the site to gain a Spanish e-gaming licence.

Last week, rival online bookmaker Sportingbet settled a similar €17.2m (£13.8bn) tax bill with the Spanish tax authorities.

In order to meet the payment, Sportingbet said it raised £15m through the sale of convertible bonds.

The Spanish tax authority has contacted all major online gaming operators and informed them that any online operator that has ever accepted payments from Spanish customers is obliged to pay taxes in Spain under two laws, one dating from 1966 and the other from 1977.


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