Ladbrokes Confirms its Move Offshore

UK gaming firm, Ladbrokes, has confirmed that it is following the lead of William Hill and transferring its sports betting operations to Gibraltar. The move comes in the wake of “intense competitive pressures” that the company faces due to heavy taxation demanded by the government on UK based group.

Ladbrokes says that it has no choice but to move to Gibraltar in order to be on a level playing field with the other big groups in the business.  “Operating from the UK has become unsustainable and we will relocate by year end,” confirmed Christopher Bell, the Chief Executive Officer for Ladbrokes.

The moving of William Hill and now Ladbrokes, both large UK companies, to a juristiction outwith the UK comes as a blow to the UK Government due to loss of revenues from these two London Stock Exchange listed groups. 

The UK opened up to online gambling companies in 2006 but has failed to capitalise on the revenues produced by them due to the excessive tax placed on profitable corporations within the UK.  It is becoming commonplace for businesses to relocate to an offshore operation to avoid paying heavy taxation fees.

However, the good news for players is that Gibraltar is still within the UK's white-listed, regulated area meaning that players are still confident of fairness when playing online. 

If you'd like to find out more about Ladbrokes and playing online with them, then check out the Ladbrokes Casino, Ladbrokes Bingo or Ladbrokes Poker reviews on this site.

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