LinkBack URL
About LinkBacksIn 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.
Results 1 to 6 of 6
-
4 November 2009, 9:57 am #1
GPWA Gossip Hound
- Join Date
- February 2007
- Location
- Newton, MA
- Posts
- 4,493
- Thanks
- 458
- Thanked 2,033 Times in 1,272 Posts
Ladbrokes completes move to Gibraltar
-
4 November 2009, 12:00 pm #2
Private Member
- Join Date
- August 2009
- Location
- Sofia, Bulgaria
- Posts
- 43
- Thanks
- 9
- Thanked 26 Times in 12 Posts
Maybe Gibraltars is giving the best tax conditions for betting operators.
-
4 November 2009, 12:49 pm #3
Former Affiliate Manager
- Join Date
- June 2009
- Location
- Malta
- Posts
- 1,320
- Thanks
- 115
- Thanked 247 Times in 192 Posts
Gib has no VAT plus you can pick new staff much cheaper than you can in the UK.
Shaun
Originally Posted by Trifonoff
-
10 November 2009, 1:40 pm #4
Public Member
- Join Date
- November 2009
- Posts
- 19
- Thanks
- 2
- Thanked 2 Times in 2 Posts
Originally Posted by Trifonoff
I am sure that you are right.... everybody does what is best for them... it's something normal.
-
11 November 2009, 4:14 am #5
Former Affiliate Manager
- Join Date
- June 2009
- Location
- Malta
- Posts
- 1,320
- Thanks
- 115
- Thanked 247 Times in 192 Posts
Gib also gets more sun than the Uk so perfect reason to move.
Shaun
-
11 November 2009, 4:42 am #6
Public Member
- Join Date
- July 2009
- Location
- London
- Posts
- 176
- Thanks
- 5
- Thanked 39 Times in 26 Posts
Buzz, Buzz, Buzz...
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.thtmlJon Parker,
editor, EGRmagazine.com
Reply With Quote
Posting Permissions