William Hill has confirmed that its online betting and gaming business, and online fixed-odds games are to be moved from the UK to Gibraltar, where its online arm will operate under a Gibraltar license.
A statement from William Hill noted that Gibraltar is a centre for online betting and gaming companies, offering access to skilled employees, an established regulatory environment and a competitive tax regime. William Hill Online’s headquarters and core gaming operations are already based in Gibraltar. Approximately 75 employees have relocated from William Hill’s UK operations to join William Hill Online in Gibraltar.
William Hill’s statement notes:
'As a result of the move, William Hill Online will benefit from cost savings already being achieved by other offshore operators, which have previously put it at a commercial disadvantage. William Hill continues to have a substantial presence in the UK and Ireland, including 2,300 licensed betting offices and around 16,000 employees. It paid almost GBP300m in UK taxes and levies in 2008.'
Ralph Topping, Chief Executive of William Hill, commented:
“We are ambitious for William Hill Online to be a successful online betting and gaming business on the international stage. Having acquired European-focused websites, global marketing and multi-lingual customer services capabilities; this is the logical next step in our development of this business. William Hill Online has an increasingly international customer base and this move will ensure we are well positioned to compete on an international stage.”
Following William Hill’s announcement, all eyes will now fall on its largest UK rival, Ladbrokes, which is expected to follow suit. In an earlier statement Ladbrokes predicted that if William Hill were to relocate offshore it would need to consider similar action.
A comprehensive report in our Intelligence Report series using the experiences of a fictional company, Peyton Media Group, and its 'dotcom' spin-off, PayTechPublishing ('PayTech'), the Lowtax Gibraltar Report sets out to analyse the suitability of Gibraltar as an e-commerce location. The Report will be useful to every company considering the switch to e-commerce, and uncertain whether or not to 'go offshore'. The Report is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report12.asp
Network Tweets Archive
| Resources | Partners
| Site Map | Links
| Newsletter
Archive | Contact
| RSS Feeds
About | Syndication |
Advertising & Marketing |
Recruitment |
Terms & Conditions |
Privacy
Copyright © 2012 - All Rights Reserved - Tax-News.com
All content provided by BSI Media
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment