Paddy Power Betfair has announced it will withdraw its Paddy Power brand from the Italian market.
The company will still have its Italia branch of Betfair operating in Italy.
The move comes amid speculation that Italy plans on increasing tax on both land based and online betting operators in the country. According to Italian media reports, taxes paid by land-based betting operators will be raised from 18 percent to 19 percent and online taxes raised from 22 percent to 23 percent.
