Czech gambling operator Synot Tip has cancelled its four-year deal as the title sponsor of the Czech Liga top-tier football competition after just 18 months and has also curtailed several other sporting partnerships.
The company said that the increase in taxes announced by Czech authorities last year meant that it was having to slash its marketing budget.
As well as the end of the league partnership, Synot is also cancelling its deals with football clubs Sparta Prague and FK Jablonec, as well as basketball side CEZ Basketball Nymburk.
Synot director Neofytos Neofytou said: “Legislative changes have had a major impact. The sudden increase in taxes in the lottery industry have meant the loss of hundreds of millions of crowns, with these funds being taken out of our marketing and promotion budget.
“The state has taken such a large amount of money that our activities cannot support sponsorship spending in the market.”
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