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Bet365 Benefits from Gibraltar tax haven

11/25/2012 :  BET365 OWNER DONATIONS UNDER POLITICAL SPOTLIGHT
 
Benefits from Gibraltar tax haven
 
UK leader of the Labour Party Ed Miliband's campaign against tax avoidance may turn on him as a generous benefactor to the Labour Party is said to have saved millions in taxes by operating from Gibraltar.
 
Peter and Denise Coates' online gambling firm bet365 is under scrutiny with detractors saying more than a third of its profits come from its British overseas territory-based subsidiary.
 
bet365 is reported to have saved GBP 13 Million in tax between 2009 and 2011, paying only 10 percent in Gibraltar compared to a steep 28 percent in the United Kingdom at the time.
 
Generous donations from Peter Coates to the Labour Party are at the centre of the brewing storm with GBP 10 000 donated to Ed Miliband this year and a total of GBP 300 000 donated to the party over the last decade reports The Daily Mail Online.
 
Miliband's draft election manifesto carries a priority for the party that is headed "Labour believes addressing tax avoidance at an individual and corporate level must  be a priority," which details "At home, this means making it plain to the Crown Dependencies [such as Gibraltar] we will expect them to observe the letter and the spirit of the law."
 
A bet365 spokesperson told The Daily Mail Online that it was unfair to highlight the tax advantages it enjoys because, unlike its main competitors, it paid UK tax on the majority of its operations, "Bet365 is the only major online bookmaker that remains licensed in the UK and as such pays more than GBP 130 million in annual taxes to the UK Treasury."

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Gambling News :

IGT Continues Partnership with Coljuegos EICE - IGT will continue its 16-year partnership with Colombian administrative gaming authority Coljuegos EICE following a public procurement process for a five-year private operator contract to run the draw-based online lottery game Baloto.

Magic Spells SLot Launches - The penny slots’ Wild symbol is a bubbling cauldron which is an Expanded Wild that can cover up to four positions for multiple winning combinations.

Mega Moolah progressive jackpot slot was hit for Euro 6,078,249.33 - Identified as N.C., the player was a novice who signed up to the online casino on a new customer bonus offering 100 chances to become a millionaire for Euro 5.

Lightning Box Games in Deal With Everi Games - Australian slot developer, Lightning Box Games, has entered into a distribution deal with electronic gaming content provider, Everi Games, for a selection of its proprietary slot content.

Storspiller HighRoller Casino Launches - Storspiller.com is targeted at “high rollers” within Kindred’s total registered customer base who play for GBP 200 or more per month.

Another Attempt to Acquire Tatts - The surprise A$8.4 billion bid for Tatts late last year by the Pacific Consortium caused some consternation in the Tabcorp and Tatts boards, which were in merger talks but these concerns faded following Tatts rebuff of the consortium's offer

US Supreme Court Interested in NJ SportsBetting Case - The US Supreme Court, which is for the second year mulling whether to hear New Jersey's case for wider legalized sports betting in the United States ) has showed some interest in the case.

Ladbrokes Trading Update - The Ladbrokes Coral plc online and land gambling group has released a trading statement for the unaudited year to 31 December 2016, reporting:

Leovegas Player Wins a BMW X4 - A 23-year-old Southampton University student identified only as Leo has won a GBP 50,000 BMW X4 sports saloon car playing NetEnt's Live Casino Roulette on the Leo Vegas mobile gambling,site.

New Survey on Europe Online Gambling Regulations - The companies delivered their conclusions, which include both EU and European Economic Area technical regulations, this week.

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