Ladbrokes and William Hill set to Leave UKBritish Bookies to Move Offshore to Avail of Lower Taxes |
|
The Daily Mail has reported that both Ladbrokes and William Hill, Britain’s two biggies 
bookmakers, look set to announce they will move offshore to avail of lower taxes. Both bookies run popular online poker businesses.
William Hill is expected to announce the move as early as tomorrow when it publishes its half yearly financial statement and the newspaper says if William Hill moves, Ladbrokes will also move.
It quotes a spokesman for Ladbrokes as saying, “Our preferred position is to remain in the UK but we have to remain alert to competitive developments.”
Bookies in the UK pay 15 percent tax on gross profits while their offshore rivals pay just 1.5 percent according to the paper.
The moves are widely seen as an opportunity for the bookies to catch up with their competitors in terms of marketing spend which has been hampered by high UK taxes.
Copyright © 2001-2024
CardPlayer.com. All rights reserved.
