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Prompting Action

Online casinos have been complaining for some time now about the unfair taxes on online casinos that actually operate in the United Kingdom. The high taxes have put the UK registered gambling sites at a competitive disadvantage because online casinos and gambling companies registered out of the Isle of Man, Gibraltar, and other jurisdictions pay less in taxes but still have full access to the UK market. The UK’s largest land and online casino gambling companies have been pressing the government to reassess the gambling tax regulations for some time now and it is only now that two major companies are leaving the market that the UK government has been prompted to action. William Hill announced that it was moving online operations offshore and Ladbrokes’ announcement shortly followed.

These two companies have represented a whole lot of money to the UK government over the past several years and the loss of tax revenues from Ladbrokes and Will Hill has finally nudged the government out of complacency and into action…but likely not in enough time. Just last month the UK Gambling Commission announced the suspension of action on the UK White List until the government had completed a planned investigation into the impact of the UK’s legislation and regulations on the online casinos and gambling sites.

A decision in the situation is expected by January 2010; unfortunately for the UK government though, Ladbrokes will have firmly departed the market by that time with an eye on greener pastures. The tax advantages offshore are undeniable for the online casinos and Ladbrokes’ CEO has noted that the company has to move this year in hopes of remaining profitable and sustainable.