Bwin.party reach gambling tax agreement with Spain
Bwin.party are the world's largest listed online gambling operator, they have recently secured the first wave of brand new Spanish Gambling licenses; they have now announced that they have finally reached an agreement with Spanish officials which will see the company pay a massive 33.6 million Euros in back taxes.
Bwin.party became the largest listed online gambling operator in the world following a partnership deal between Bwin Interactive Entertainment and PartyGaming during March of last year. Since then, the newly formed union has managed to go from strength to strength and has been involved in a great many high profile deals. They have already managed to increase their annual year-on-year revenues by 1% within their first year of operations – this figure now stands at an impressive 215.9 million Euros.
A statement has recently been released by Bwin.party concerning their stace on the upcoming Spanish back taxes; it confirms both their position and the amount that they are willing to pay, saying: “Having taken these steps, we believe we have now fulfilled all requirements and look forward to receiving our licence and entering the Spanish market.”
The back taxes have resulted primarily from two historic Spanish laws which had not been applied previously to include offshore gambling. This had led to some initial unease when they were brought froward to be enforced; however, the latest news from Bwin.party has led analysts to speculate that the issue has been all but resolved.