Bwin.party has confirmed that the VAT bill for its European operations will rise by €15m following EU place-of-supply legislation that came into force at the start of the year.

bwin.party

The company said in a statement: "Whilst substantial uncertainty remains in the light of the new rules, the board now expects to file for and pay VAT in certain EU member states.

“In 2015, total net revenue and cash flow will be reduced by approximately €15m before any mitigating actions," the statement concluded.