William Hill online moves to Gibraltar
Tuesday, August 4, 2009 @ 1:41 PM
William Hill PLC (LSE: WMH) (William Hill or the Group) announces that its online betting and gaming business, William Hill Online, will be moving its online betting service, Sportsbook, and online fixed-odds games from the UK to Gibraltar, the headquarters of its online operation. Thereafter, the Sportsbook and Games will be operating under a Gibraltar licence.
The transfer of the Sportsbook and fixed-odds games is part of the ongoing integration of William Hill Online. William Hill Online was created in December 2008 through the combination of William Hill’s existing interactive business with assets acquired from Playtech Limited.
Gibraltar is a leading centre for online betting and gaming companies, offering access to skilled employees, an established regulatory environment and a competitive tax regime. William Hill Online’s headquarters and core gaming operations are already based in Gibraltar. Approximately 75 employees have relocated from William Hill’s UK operations to join William Hill Online in Gibraltar.
As a result of the move, William Hill Online will benefit from cost savings already being achieved by other offshore operators, which have previously put it at a commercial disadvantage. William Hill continues to have a substantial presence in the UK and Ireland, including 2,300 licensed betting offices and around 16,000 employees. It paid almost £300m in UK taxes and levies in 2008.
Ralph Topping, Chief Executive of William Hill, commented:
“We are ambitious for William Hill Online to be a successful online betting and gaming business on the international stage. Having acquired European-focused websites, global marketing and multi-lingual customer services capabilities, this is the logical next step in our development of this business. William Hill Online has an increasingly international customer base and this move will ensure we are well positioned to compete on an international stage.”
Source: William Hill