Tag: online gambling companies
‘Seismic shift’ forecast for online gambling companies
August 27, 2013
CNBC – Online bookmakers are scrambling to move into Europe and Australia to offset potential losses from an upcoming U.K. gambling tax, which could cause a “seismic shift” in the industry, according to analysts. From December 2014, a 15 per cent levy will be placed on remote offshore gambling firms that serve U.K. customers, in a move that may raise £300 million pounds ($467 million) for the taxpayer. This will hit major U.K. bookmakers like William Hill and Ladbrokes, which operate from Gibraltar, where taxes are currently levied at 1 per cent and capped at £425,000. Analysts said the so-called…