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William Hill Challenging Uk Gambling Law
Monday July 30,2012 : WILL HILL TO CHALLENGE PROPOSED NEW UK INTERNET GAMBLING LAW (Update)
Lawyers briefed to prepare a legal case against point of consumption taxation
Britain's largest bookmaking firm, William Hill plc, has briefed lawyers to prepare a challenge to the proposed new UK law that will see offshore companies accessing the British market taxed on a 'point of consumption' basis, and forced to take out secondary licensing with the Gambling Commission.
Reporting on the new development Monday, the Telegraph newspaper said that the bookie giant was less than pleased at the prospect of a 15 percent on profits, due to come into force around the end 2014.
In the highly competitive remote gaming market, almost all major UK bookmakers, including Ladbrokes, have shifted their online businesses to gambling-friendly tax havens such as Gibraltar and the Isle of Man over the past decade in order to better compete against other offshore online gambling operators.
Betting lawyers have already warned that the proposed tax is “illegal” under European Union law as it is an attempt to restrict the free movement of goods and services for tax purposes.
Ralph Topping, chief executive of William Hill, told The Telegraph that he had received “encouraging noises” from lawyers that the betting giant would have a solid case against the 'point of consumption' tax. William Hill’s digital profits reached GBP 68.9 million in the first half of the year, and the channel is an important component in the group.
Jason Chess, betting and gaming partner at law firm Wiggin, said: “You cannot restrict the free movement of goods and services in order to raise your own national tax. We can’t stop BMW from selling BMWs in this country because the tax is paid in Germany.”
Betting authorities in Gibraltar are also considering taking the UK to court over the tax amid fears it could encourage bookies to shift their online businesses back to Britain.
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Mybet Earnings Struggle -
The statement this week reveals that Mybet continued to be hampered by negative trends from historic quarters, making its original performance estimate "unrealistic".
Tom Horn Awarded Malta Gaming License -
Online gambling software provider Tom Horn Gaming has been awarded a Malta Gaming Authority license that permits the company to host and manage Malta-based gaming operators.
Calvin Ayre invests in new Antigua Business Center -
Ayre joined with government officials this week in a ground-breaking ceremony for a five-story centre on Antigua which will be home for the venture. The "green" building will be solar powered and provide employee-friendly services like catering, a gym and child care.
Attack of the Zombies Slot -
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Why is FullFlush Poker Still Down -
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Time Running Our For Pennsylvanian online gambling -
Hopes that this week would see the Pennsylvanian Senate voting on an online gambling and DFS legalization bill already passed by the House four months ago dwindled Wednesday when no progress was made and the legislatures season officially closed.
Yggdrasil Gaming Expanding -
The Swedish online gambling games developer Yggdrasil Gaming is to establish a new parent company and expand its Stockholm office as it bolsters its presence in Sweden with a raft of new hires.
FanDuel and DraftKings Settle With NY Attorney General -
Speculation earlier this week that daily fantasy sports market leaders FanDuel and DraftKings were about to agree a settlement on consumer fraud suits prepared by the New York AG was confirmed Tuesday when a $12 million settlement was announced.
Stan james Now Live With EPOS -
The company switched to the Optima server less system across its entire estate in July after previously using Optima EPOS technology. The switch was completed early this (October) month and has already delivered noteworthy savings for the company.
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