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William Hill Confirms Gibraltar Move - 08-06-09 |
August 6 - William Hill, the leading UK gambling group, has confirmed rumors that it will be moving its online fixed odds games and online betting services to Gibraltar to benefit from reduced taxation, and to further the integration process of William Hill Online.
The group made its announcement on Tuesday morning after presenting its performance report for the first 26 weeks of 2009.
William Hill said that its business had increased an impressive 58% in revenues and had now passed the GBP 100 million mark by the end of June.
The Chief Executive Officer of William Hill, Ralph Topping said that the move would be of benefit to the group for a number of reasons.
"We are ambitious for William Hill Online to be a successful online betting and gaming business on the international stage," said Topping. "Having acquired European focused websites, global marketing and multi lingual customer services capabilities, this is the logical next step in our development of this business. William Hill Online has an increasingly international customer base and this move will ensure we are well positioned to compete on an international stage."
William Hill is also set to save itself millions of pounds by moving to the tax haven of Gibraltar. Last year alone, the company paid over GBP 300 million in taxes and levies the government.
The group's games and sportsbook products will operate under a Gibraltar license from now on.
The UK government is in the process of reviewing its gambling laws and has frozen the White List of operators who meet the country's high standards of regulation.
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