GAMBLING NEWS
Ladbrokes is moving to Gibraltar
Aug 12, 2009
Ladbrokes is at the moment Great Britain’s second largest betting firm and offers players all over Great Britain to place bets on their odds through their betting shops that are located all over the region. Ladbrokes also offers their betting options online for all their customers who whishes to place their money on Ladbrokes odds from home on the computer. Ladbrokes online section has their current offices located in the heart of England, London. But all that is going to change before the year ends.
The Ladbrokes London office that are in charge of the online betting operation is about to move abroad to the tiny Mediterranean Island of Gibraltar situated right outside the south Spanish coast in between Spain and Morocco. Ladbrokes has announced that the reason for relocation is due to the high taxes in Britain where the company pays about 70% taxes on the their net profit where a move to Gibraltar would lover that tax to mere 2% making the online business a much more profitable product for the betting giant.
High costs is the main reason for the move and since the growth of the Ladbrokes online sportsbook has slowed down emcee since the recession and more and more sportsbook operating from outside the United Kingdom are targeting the market the competition for the players have been harder and harder. Ladbrokes Online Sportsbook is today employing over 500 people and Ladbrokes have announced that it will be none to a few jobs disappearing with the relocation of the company to Gibraltar.
