January 25, 2018 / 6:18 PM / a year ago

GVC makes 200 mln euros provision for Greek tax bill, plans appeal

Jan 25 (Reuters) - GVC Holdings has made a provision of about 200 million euros ($249.64 million) in its 2017 accounts after its Greek subsidiary received a tax bill from the local tax authority, the sports betting firm said on Thursday.

The company said tax bill was 186.77 million euros and this was substantially higher than the revenues generated by the Greek business during the period of assessment, 2010 and 2011.

GVC said it planned to appeal.

During the period of assessment, the business was owned by Sportingbet Plc, prior to its acquisition by GVC, the gaming company said in a statement.

Earlier in the month, the GVC said its gaming revenue for the fourth quarter rose 21 percent to 279.5 million euros ($334 million). ($1 = 0.8012 euros) (Reporting by Hanna Paul in Bengaluru; Editing by Jane Merriman)

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