27/07/2010, Online casino

William Hill, the major British gaming group, has planned to move its telephone betting operations offshore to Gibraltar. William Hill's chief executive, Ralph Topping, said that the change, which will affect almost 350 employees, is a “response to the challenge of competing with betting exchanges and offshore telebetting operators, all of whom have benefited from significant cost and tax advantages ”.

The bookmaker plans to move its telephone business offshore and to review its loss-making betting shops. William Hill wants to reduce its tax bills which amounted to £670 million last year. The bookmaker currently has over 170 unprofitable shops, 50 of which will not make the end of the year, causing the loss of other 200 jobs.

William Hill wants to enjoy the tax advantages that other offshore operators already take advantages of and save 4 to £7 million a year from January. The offshore operators pay very low taxes and no horse-racing levy.
This change will cost the bookmaker almost £7 million, but William Hill, whose betting business registered a loss of £1.8 million last year and another small loss for the first half of 2010, hopes to flourish again in the nearest future.

William Hill has a significant importance in the UK and Ireland and it includes 2,300 licensed betting offices and almost 16,000 employees.