Betclic denies wrongdoing amid French tax probe
The French tax agency is investigating the company’s Maltese subsidiary.
France.- The French gambling operator Betclic has denied wrongdoing with regards to reports of a French tax probe into its Maltese subsidiary. French media have reported that the French tax inspection agency DNEF is investigating Betclic Enterprises Limited.
According to media reports, the DNEF seized documents from Betlic in October due to suspicions that Betclic Enterprises had not submitted required tax declarations in France. The agency said the company could be conducting part of its commercial activity in France without correctly accounting for the revenue or submitting corresponding declarations.
Betclic is reported to have unsuccessfully challenged the seizure of documents, however it refutes any allegations of tax fraud. It said in a statement to French media: “Betclic respects all of France’s tax and social regulations.”
Its legal counsel suggested that the investigation had been triggered by an “erroneous understanding of the group’s structure” and an “incorrect analysis” of its domestic and international operations.
Betclic is now part of the new media and entertainment conglomerate FL Entertainment following a merger with TV producer Banijay. The conglomerate belongs to Lov Group and Vivendi. Monte-Carlo SBM International (SBM) transferred its 47.3 per cent stake in Betclic Everest to FL Entertainment last year. The gambling business generated revenue of €244m in Q1, up 14 per cent year on year. EBITDA was up 8 per cent at €63m.
