Ladbrokes completes move to Gibraltar

[The Buzz]

In August Ladbrokes said that it would move its sportsbook to Gibraltar by the end of the year. The company had operated its sportsbook in the UK.

Well, that time has come. Ladbrokes has said that it will move its online sportsbook operations to Gibraltar this week, nearly two months ahead of schedule.

From Gaming Intelligence:

By operating its sportsbook from the UK since 2001, Ladbrokes has been subject to 15% gross profits tax and VAT on input costs, currently 15%, as well as paying the Horserace Betting Levy at 10% of profits on British horseracing.

In contrast, offshore bookmakers pay very low profit taxes of 1 or 2% and are not subject to the Horserace Betting Levy.

The company said that the relocation would save significant sums in tax and allow Ladbrokes to be better enabled to compete against rivals who have been operating from offshore locations for many years.

[Trifonoff]

Maybe Gibraltars is giving the best tax conditions for betting operators.

[Shaun O'neill]

Gib has no VAT plus you can pick new staff much cheaper than you can in the UK.

Shaun

Maybe Gibraltars is giving the best tax conditions for betting operators.

[Smoky89]

Maybe Gibraltars is giving the best tax conditions for betting operators.

I am sure that you are right.... everybody does what is best for them... it's something normal.

[Shaun O'neill]

Gib also gets more sun than the Uk so perfect reason to move.

Shaun

[JonOfFinsbury]

Buzz, I'm disappointed in you! Don't you know that EGR reported this story a full week ago?

http://www.egrmagazine.com/news/indu...his-week.thtml