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22
May
2020

QUARTERLY FINANCIAL RESULTS AND QUANTITATIVE DATA

The National Betting Authority is systematically publishing quarterly reports on the Financial Results and Quantitative Data for the period starting January 2015 to the current quarter. The goal of this publication is the maximization of transparency and better public awareness.

The results for the quarter of 2020 (January – March) that are presented are derived from the detailed financial statements of Class A and B licenced bookmakers, as well as from the data that are stored to the Authority’s registry.

Click here for more information.

13
May
2020

Special Report of the Audit Office for 2018 – The Authority welcomes constructive feedback

The National Betting Authority has received and is currently assessing the Audit Office’s 2018 report on the Authority’s activities.

First, we would like to state that the report has in some respects considered the position of the Authority, which was requested by the Audit Office prior to the report’s publication.

Moreover, the report comments extensively on the issue of tax returns (not betting tax) and whether or not companies regulated by the Authority are compliant. It is evident that this matter does not fall within the competences of the Authority and it is our position that, any tax issues should be addressed towards the Commissioner of Taxation. The report’s comments and recommendations indicate that the Authority has fulfilled its obligations to the maximum, hence any further action would have been beyond its powers and would have interfered with responsibilities of the Commissioner of Taxation. Finally, we would like to stress that to the best of our knowledge, our operators are fully compliant with the provisions of the National Law.

In regard to the remaining main findings of the Audit Office’s report, the Authority’s comments, which essentially were sent to the Audit Office as direct quotations, are presented below:

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