StockMarketWire.com - Playtech reported new Italian legislation is estimated to hit its 2019 adjusted earnings by approximately €20m to €25m before any mitigating actions.

The company said on Sunday 23 December 2018 the Italian Senate passed the government's 2019 budget which includes legislation to increase taxation on various types of gambling activities.

The legislation is expected to receive final approvals, including from the Chamber of Deputies, before the end of 2018.

The legislation is scheduled to take effect from 1 January 2019. The expected impact from the legislation is in addition to the previously announced impact from the 2018 Dignity Decree.

Story provided by StockMarketWire.com