Paddypower to exit Italian market

Amid rumours that the Italian government is mulling both online and land gambling tax increases, Paddy Power Betfair has announced that the Paddy Power brands will be exiting the market in December this year, leaving Betfair Italia active for Italian online punters.

Speculation over the past few weeks is that tax hikes of 1 percent are likely to be imposed on land gambling operators, bringing the tax rate up to 19 percent of GGR, whilst online operators will probably face a similar increase, bringing their tax rate to 23 percent of GGR.

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