UK tax levels too high to enable online operations to compete
Word on the street is that the transfer of Ladbrokes online gambling operations to Gibraltar has progressed apace, enabling the actual move to take place several casino games weeks ahead of original planning.
The transfer is expected to be effected this week, a remarkable achievement bearing in mind that the decision to leave the UK was only made in August.
At that time Ladbrokes, along with William Hill, noted that the online gambling sector was intensely competitive, and that British taxes and levies made it impossible for the online gambling divisions to compete effectively against other online companies domiciled in respected jurisdictions with more benevolent tax regimes.
Ladbrokes will soon release a revamped and technologically upgraded sportsbetting website, the company has revealed.
William Hill has already transferred its online operating activities to Gibraltar.