British casino operator Rank Group Plc (RNK.L) Wednesday issued an update on its VAT refund claim.
The company notes the decision by HM Revenue and Customs or HMRC that it has decided not to appeal the decision handed down by the First-tier Tribunal on June 30 regarding VAT paid on slot machine income in the period from April 2006 to January 2013.
Rank said the First-tier Tribunal has agreed a 60-day extension to allow HMRC and Rank to agree the exact quantum of the claim which it still expects to be about 80 million pounds.
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