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Several companies are considering investment in the UK?s gaming industry because the government is redrafting the outdated gambling bill.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

Related Articles

Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

Corporate Tax Big names, little tax: Airbnb, Facebook, Kellogg’s, eBay

2m Alia Shoaib, Reporter
New trading allowance: simplicity, but not as we know it

Administration New trading allowance: simplicity, but not as we know it

2m Emma Rawson, ATT Technical Officer
EU divided over radical tax reforms targeting tech giants

Corporate Tax EU divided over radical tax reforms targeting tech giants

2m Alia Shoaib, Reporter
‘Improve rather than lose’ disincorporation relief, tax body urges

Administration ‘Improve rather than lose’ disincorporation relief, tax body urges

3m Austin Clark, Reporter
How to educate your clients about tax avoidance

Corporate Tax How to educate your clients about tax avoidance

3m Clear Books | Sponsored
CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

Corporate Tax CGT clampdown nets HMRC £124m – but could lead to increase in use of avoidance schemes

3m Austin Clark, Reporter
‘Google tax’ nets HMRC £281m

Corporate Tax ‘Google tax’ nets HMRC £281m

3m Emma Smith, Managing Editor
Should I incorporate my buy-to-let business?

Corporate Tax Should I incorporate my buy-to-let business?

4m Emma Rawson