Amaya gets off lightly in Italian tax settlement

Amaya Inc. issued a statement Wednesday revealing that it has paid Euro 5.9 million as a full and final settlement with Italian tax authorities to resolve a previously disclosed Pokerstars tax dispute (see previous reports).

The Italian Guarda di Finanz originally estimated that approximately Euro 85 million was owed by a subsidiary of Amaya related to its Italian operations under the PokerStars brand for the 2009 through 2014 tax years.

“The agreement represents a final settlement of the matter and the payment includes all amounts owing to Italian authorities for the periods at issue,” the Amaya statement proclaims.

“In addition, as part of the settlement the subsidiary does not owe any additional taxes for the 2014 tax year. The entire settlement amount and related expenses have been paid from the escrow fund established under the merger agreement governing Amaya’s acquisition of the PokerStars business.”

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