MONTREAL, Jan. 13, 2016 /PRNewswire/ - Amaya Inc.
(NASDAQ: AYA; TSX: AYA) today said it has paid €5.9 million as a
final settlement with Italian tax authorities to resolve a
previously disclosed tax dispute in which Italian authorities
estimated that approximately €85 million were 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. 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.
About Amaya
Amaya is a leading provider of technology-based solutions,
products and services in the global gaming and interactive
entertainment industries. Amaya owns gaming and related consumer
businesses and brands including PokerStars, Full Tilt, BetStars,
StarsDraft, the European Poker Tour, PokerStars Caribbean
Adventure, Latin American Poker Tour and the Asia Pacific Poker
Tour. These brands have more than 97 million cumulative registered
customers globally and collectively form the largest poker business
in the world, comprising online poker games and tournaments, live
poker competitions, branded poker rooms in popular casinos in major
cities around the world, and poker programming created for
television and online audiences. Amaya, through certain of these
brands, also offers non-poker gaming products, including casino,
sportsbook and daily fantasy sports. Amaya has various gaming and
gaming-related licenses or approvals throughout the world,
including from the United Kingdom,
Italy, France, Spain, Estonia, Belgium, Denmark, Bulgaria, Greece, Ireland, Romania, the Isle of
Man, Malta, the State of
Schleswig- Holstein in
Germany, the Province of
Quebec in Canada, and the State of New Jersey in the United States.
Cautionary Note Regarding Forward Looking Statements
This news release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and
applicable securities laws, including, without limitation, certain
expectations and projections related to tax proceedings.
Forward-looking statements can, but may not always, be
identified by the use of words such as "seek", "anticipate",
"plan", "continue", "estimate", "expect", "may", "will", "project",
"predict", "potential", "targeting", "intend", "could", "might",
"would", "should", "believe", "objective", "ongoing", "assumes",
"goal", "likely" and similar references to future periods or the
negatives of these words and expressions and by the fact that these
statements do not relate strictly to historical or current matters.
These forward-looking statements are based on management's current
expectations and are subject to a number of risks, uncertainties,
and assumptions, including market and economic conditions, future
plans and strategies, projections, anticipated events and trends
and regulatory changes that affect us, our customers and our
industries. Although Amaya and management believe that the
expectations reflected in such forward-looking statements are
reasonable and based on reasonable assumptions and estimates, there
can be no assurance that these assumptions or estimates are
accurate or that any of these expectations will prove accurate.
Forward-looking statements are inherently subject to significant
business, economic and competitive risks, uncertainties and
contingencies that could cause actual events to differ materially
from those expressed or implied in such statements. Such
risks and uncertainties include those identified under the heading
"Risk Factors and Uncertainties" in Amaya's Annual Information Form
for the year ended December 31, 2014
and in its Management's Discussion and Analysis for the period
ended September 30, 2015, each
available on SEDAR at www.sedar.com, EDGAR
at www.sec.gov and Amaya's website at www.amaya.com,
and in other filings that Amaya has made and may make with
applicable securities authorities in the future. Investors are
cautioned not to put undue reliance on forward-looking statements.
Any forward-looking statement speaks only as of the date hereof,
and Amaya undertakes no obligation to correct or update any
forward-looking statement, whether as a result of new information,
future events or otherwise, except as required by applicable
law.
SOURCE Amaya Inc.