Payday

About Payday

Playtech CFO and Director Chris McGinnis told analysts on Thursday that the deal could provide an additional boost to the company’s medium-term outlook.

He explained the Brazil opportunity wasn’t explicitly built into Playtech’s medium-term guidance when it was set after its full-year results in March last year.

“At that point, we sort of knew of the opportunity, but it wasn’t specifically factored into the guidance necessarily,” he stated. “But I think when we set the guidance, we saw there are ambitious targets, and there were not necessarily specific contributors in terms of how you’re going to get there other than looking at the overall opportunities across the group.

What is Payday?

According to the Gaming Machine Tax Act 2001, a tax rebate of up to 1.85% of a club’s gaming machine profits is made available to any registered club that records profits of over $1 million (US$715,000) during a tax year. 

This is only possible if the club in question allocates at least 0.75% of prescribed profits over $1 million to community-focused activities and services. These profits make up two-thirds of the ClubGRANTS scheme funding. 

The final third derives from a further 0.4% of a club’s gaming machine profits over $1 million during a tax year. 

About Payday

“Ultimately, our focus is not only on representation, but on fostering an environment where everyone has the opportunity to contribute, develop and succeed,” Yaxley says.

A key question around DEI has long been how the gambling sector can attract diverse talent. Increasingly, however, attention has shifted to whether it can retain the people it attracts.

“One misconception is that DEI is solely about recruitment targets,” Skinner says. “Recruitment is important, but bringing diverse people into an organisation without creating an inclusive culture simply results in higher turnover.”