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Ladbrokes Moving To Gibralta
Ladbrokes has announced that it is to follow William Hill plc offshore to a kinder tax regime in Gibraltar, confirming speculation that it would use the publication of its H1 2009 results to make the announcement. CEO Chris Bell said the company expected to save in excess of GBP 7 million a year from the move.
However, the group said that it would keep its telephone betting call centre in Britain.
Industry observers are now watching for reactions from the Tote and Gala Coral groups, which have not yet made public their positions on shifting online operations offshore in order to more effectively compete. Betfair has already indicated that it is not considering such a move at present but is keeping its options open.
The Ladbrokes land and online gambling group reported a decline in first-half pre-tax profit and cut its dividend as it warned trading had worsened since May and economic conditions remained challenging.
The company reported an underlying pre-tax profit of GBP 131.3 million (H1 2008: GBP 136.6 million).
CEO Bell said the company was still aiming to meet full-year expectations - Reuters reports that the consensus of analysts for full-year underlying pre-tax profit currently stands at GBP 180 million).
The gambling group cut its dividend by 31 percent to 3.5 pence given the results to date and uncertain outlook.
Previous reports have revealed that Ladbrokes is looking to sell its Italian retail business and Bell said the company has received expressions of interest.
Shares in Ladbrokes have lost nearly a third of their value over the past year.
New Racing UK free-to-watch show -
Wake up to Luck on Sunday – join Nick Luck and guests for new Racing UK free-to-watch show. BHA Chief Executive Nick Rust to appear on first broadcast this Sunday
MLB Odds: Stroman Gets the Nod Against Royals -
The Toronto Blue Jays (70-80, –20.18 betting units) begin their final home stand of the 2017 campaign this Tuesday when they welcome the Kansas City Royals (73-76, +2.56 units) to Rogers Centre. Sportsnet has the coverage at 7:07 p.m. Eastern.
Microgaming QuickFire enters Coloumbia -
Wplay signs for Quickfire; strategic deal sees Quickfire enter Colombian market. Colombian-licensee Wplay has signed a deal for Quickfire, powered by Microgaming.
Partypoker to sponsor WSOPC Uruguay -
Partypoker to sponsor WSOPC Uruguay in December. Qualify exclusively on partypoker for WSOP Uruguay Main Event. December 7th to 17th in beautiful Punta del Este.
MLB Odds: Jays Hope to Spoil Orioles’ Visit -
The 2017 season is just about over for the Toronto Blue Jays (66-77, –21.19 betting units), but they can play spoiler in Tuesday’s game against the visiting Baltimore Orioles, starting at 7:07 PM ET on Sportsnet.
Money Storm Casino -
Money Storm is not your typical online casino. While many focus on the quantity of games they offer their players, this one is more focused on the quality of their games.
Big Online SLot Win on Ultimate 10X Slot -
At 9.20PM on August 28th, Kasey R was enjoying the new Ultimate 10X three-reel slot at Miami Club. The game has a random 'must win' progressive jackpot that is guaranteed to pay by the time it reaches $25,000
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