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27 Jul 2010
Betting shop chain William Hill is to move its telephone betting operations to Gibraltar in a bid to improve its tax position.
Chief executive Ralph Topping, said in a statement: “This significant change to our telephone business 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 over UK bookmakers. This has made it impossible for our existing business to compete profitably from the UK.”
Last year William Hill paid £265m in tax.
Reports in the Daily Mail say the move could mean 160 redundancies with a further 200 jobs under threat as the business goes into a 90-day consultation period.
Read more
William Hill: Update on telephone business
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