Playtech lowers 2019 adjusted EBITDA

In an industry update, Playtech plc lowered its 2019 adjusted EBITDA estimate by around Euro 20 – 25 million due to an increase in Italian taxation across various types of gambling activities, saying the legislation is expected to receive final approvals, including from the Chamber of Deputies, before the end of 2018 and will take effect from January 1, 2018.

“The expected impact from this legislation is in addition to the previously announced impact from the 2018 Dignity Decree,” the statement reads.

The 2018 Dignity Decree is a legislative act brought into force by the latest Italian government which replaces the previous regime’s “Jobs Act”.  The decree covers aspects of labour relations including temporary contracts.

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