William Hill and other UK-based casino companies are growing tired of the excessive tax rate that they are paying for online gambling operations in the UK. The company is expected to announce later this week that they will be moving their online gambling operations to Gibraltar.



This move will come as a major blow to the UK government because it will mean millions of pounds in lost revenue each year. Also, other UK companies will most likely follow suit and move operations offshore. UK online casinos are paying 15% tax to operate within the United Kingdom.



One major problem is that it’s much harder for William Hill and other UK operators to remain competitive when their competition faces alot less tax and operating costs offshore. Some of the offshore casinos pay as little at 1.5% tax on their online gambling profits.



William Hill has been outperforming Ladbrokes and other online gaming companies on the London Stock Exchange, but Party Poker is still the leader when it comes to UK-based online gambling operators.

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