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| William Hill Confirms Gibraltar Move |
by Robert Lee, Tax-News.com, London
Wednesday, August 05, 2009
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
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