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Administrative Court of Appeal rules in NetEnt’s favor in tax dispute

NetEnt AB (publ) has received the ruling from the Administrative Court of Appeal in the previously reported dispute with the Swedish Tax Agency. The Administrative Court of Appeal has approved NetEnt’s appeal and reversed the earlier ruling by the Administrative Court and the Swedish Tax Agency’s review. NetEnt will receive 1.8 MSEK in compensation for legal costs in relation to the dispute but apart from this, the ruling will not have any impact on the Company’s reported earnings or financial position.

The ruling by the Administrative Court of Appeal concerns the Swedish Tax Agency’s decision to impose additional taxes on NetEnt in the amount of approximately SEK 94.4 million with regards to the financial years 2007–2010, which is the amount that NetEnt has reported as a contingent liability during the course of the dispute.

NetEnt and its legal advisors have insisted that the Company has complied with applicable laws for taxation of its operations, and has thus not made any provisions in relation to the dispute. Hence, the ruling will not impact NetEnt’s reported earnings or financial position apart from the compensation for legal costs.

NetEnt and its legal counsel find that the ruling reflects the view that the Company has held throughout the process.

For additional information please contact:
Maria Hedengren, CFO, NetEnt AB (publ)
Phone +46 8 57 85 45 00

Anna Romboli, Communications Director, NetEnt AB (publ)
Phone +46 8 57 85 45 00

The information contained in this press release is such that NetEnt AB (publ) is required to disclose pursuant to the Swedish Financial Instruments Trading Act and/or the Swedish Securities Markets Act. The information was submitted for publication on March 10, 2016 at 07.30 a.m. CET.

About NetEnt
NetEnt AB (publ) is a leading digital entertainment company, providing premium gaming solutions to the world’s most successful online casino operators. Since its inception in 1996, NetEnt has been a true pioneer in driving the market with thrilling games powered by a cutting-edge platform. NetEnt is committed to helping customers stay ahead of the competition, is listed on NASDAQ Stockholm (NET–B) and employs 700 people in Stockholm, Malta, Kiev, Gothenburg, Gibraltar and New Jersey.