Speaking on Thursday, as the company released its results for the year to 1st July, Ralph Topping, Chief Executive of William Hill, suggested that the government's indecision with regard to the gambling sector is having an adverse effect.
In an interview with the Telegraph, Mr Topping suggested that the 15% gross profits tax imposed on gambling firms by Gordon Brown during his time as Chancellor was putting such firms off locating in the United Kingdom, and called on the government to reconsider the levy, especially in view of the rise in internet betting since it was introduced.
He also reportedly urged the Brown government not to impose any additional taxes on fixed-odds betting terminals, arguing that:
"This business has to be allowed some room to grow. What I am saying to the Government is, please think things through from all angles."
According to reports in the industry press, Mr Topping acknowledged that despite accusing the government of "flip-flopping" over gambling policy, any changes in the gross profits tax regime as it relates to the gambling sector might be several years in the making.
He also dismissed the suggestion that William Hill might consider following the example of some of its peers and relocating offshore, observing, according to the GamblingCompliance.com news service, that:
“That would be extremely costly. Absolutely everything would have to be in place. Besides, we like being a UK business.”
A comprehensive report in our Intelligence Report series examining offshore e-commerce and online gaming 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_report6.asp
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