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UK Casino Company to Set Up Offshore Gambling Site

Tax-news.com

19 December 1999


UK casino operator London Clubs International has announced that it will set up an offshore internet gaming web site, which will most likely be located in South Africa, but no timetable for the new offshore venture has yet been given.

Chief Executive Alan Goodenough said the company is currently looking into joint venture partners, and has already set up a UK-based web site offering fun gaming (with no gambling for money) in order to establish an internet presence while it waits for the UK government to grant internet gambling licences. The company has also recently announced pre-tax losses this year of 10% due to a decline in business in its Casinos.

The UK government has announced a review of gambling regulations which is expected to recommend measures to establish a regulatory framework for internet gambling by late next year.

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