Sportingbet's profits hit by Spanish ruling

Sportingbet's website The firm hopes to be able to restart its operations in Spain some time next month

Quarterly profits have slumped at Sportingbet after it was forced to suspend its Spanish operation following a demand for back-dated tax payments.

The online gambling firm made a pre-tax profit of £300,000 in the three months to 30 April, down from £12.1m a year earlier.

Sportingbet suspended its Spanish unit in March after a court upheld an injunction brought by a casino firm.

But it intends to restart its operations in Spain shortly.

It expects to receive a licence from the Spanish government after agreeing to settle a tax demand for 14m euros ($18m; £11m).

More on This Story

Related Stories

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features & Analysis

Elsewhere on the BBC

  • Van DammeA-list adverts

    BBC Autos takes a look at some of the most curious and courageous link-ups in car-advert history

Programmes

  • Bitcoin logoClick Watch

    The developer behind the new Bitcoin tech on the fears it will hide criminal activity

BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.