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The source explained that such firms will now be obliged to pay a 5% tax on turnover rather than the previous 2% duty on revenues with state-determined exchange rates utilized to calculate the local equivalent of any amount owed in a foreign currency.Read a statement from Segev…“The award of these licences is great news for GVC Holdings, bringing the clarity and certainty that we have long sought for sportsbetting in Germany. The source explained that such firms will now be obliged to pay a 5% tax on turnover rather than the previous 2% duty on revenues with state-determined exchange rates utilized to calculate the local equivalent of any amount owed in a foreign currency....

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’Earnest execution:Shay Segev, Chief Executive Officer for GVC Holdings, used the press release to proclaim that his firm is now hoping to have fully implemented the complete range of Tolerance Policy initiatives by ‘the early part of 2021’ with these likely set to result in its earnings before interest, tax, depreciation and amortization falling on an annualized basis by up to ￡40 million (. It was a priority of PlayLive! to partner with the brand. The source detailed that the Tolerance Policy directives are to additionally limit local play to those over the age of 21 and prohibit such punters from losing more than 20% of their maximum spend....

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