More Gaming Companies Leave UK Due to Taxes
Tuesday, March 15th, 2011 - Alfie Williams.
The UK’s online gambling taxes have forced several operators to move their businesses offshore to locations like Gibraltar and the Isle of Man. Some of the country’s biggest operators, have already moved and now more are going in that direction.
The UK’s gambling laws have long been a drawback for online gaming operators in the country. Requiring upwards of 15% in taxes, many online casino and online bingo operators cannot afford to stay in the country and make a profit.
The land-based bingo industry has seen a similar situation, as an increase to the Bingo Tax forced many players to abandon the game as their pastime. Most players relocated to the online world, playing at online bingo websites to get their daily fix of the popular game.
While moving offshore may be a short term solution for UK-based gambling operators, the government is currently thinking of changing its licensing laws. Under the new proposed regulations, offshore operators that wish to operate within the UK will need to obtain an additional license.
This will close the loophole that allows operators to move offshore and will multiply their tax requirements. So, it will be interesting to see if offshore operators attempt to move back to the UK market.
You must be over 18 years of age to register and to place a bet. The company reserves the right to ask for proof of age from any customer and customer accounts may be suspended until satisfactory proof of age is provided.
St Minver Limited is licensed by the Gibraltar Licensing Authority and regulated by the Gibraltar Regulatory Authority under the 'Gambling Act 2005'.