TaxCorporate TaxDome gamble needs favourable tax regime

Dome gamble needs favourable tax regime

The success of billionaire Sol Kerzner's casino controversially planned for the Millennium Dome hangs on the government relaxing the tax treatment of gambling profits

Link: Firm avoids Dome action

Several companies are considering investment in the UK?s gaming industry because the government is redrafting the outdated gambling bill.

A parliamentary joint committee has been tasked with looking into the demands of the casino operators, and earlier this year took evidence from some of the world?s largest players.

Tobin Prior, chief executive of UK gaming at Kerznor International, said then: ‘We are as a company looking very seriously at major investments right now.’ But he added that it was ‘difficult… until we know the conditions under which we are going to be obliged to commit’.

He refused to add anything further this week, other than to say that Kerzner would be looking for an ‘encouraging tax regime’.

Andrew Tottenham, UK representative of Caesars, backed this message. He said Caesars was planning to develop three or four large-scale casinos, but that ‘there needs to be some realism from the governmen’?.

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