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UK Bookmaker Sets Up In Gibraltar

Panorama

06 November 2000

This story is reproduced by kind permission of Panorama at http://www.panorama.gi

The surge of UK bookmakers opening up at Gibraltar continues, with Eurobet - which is part of Coral's - having now officially opened its Gibraltar office.With weekly turnover in excess of £10million, and over 120,000 bets per week, the company says it is here to stay.

Finance director Philip Knight said: 'We have invested a lot of time and effort. Gibraltar was the ideal location to set up our infrastructure.' Eurobet have spent close on £2million in office equipment and furniture alone. They have 16 staff and hope to double numbers by the end of the year.

Will a reduction in UK betting tax lure them away? The company does not think that the extent of the reduction would make them look elsewhere. Betting from the Rock has gained prominence since Victor Chandler set up here in a wave of publicity. However, the government is not too keen on giving licences to all applicants and is exercising control over who they allow to come in.

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