Sportingbet Moving to Alderney, Channel Islands
Online gambling outfit Sportingbet is said to be transferring its licensable activities to Alderney in the Channel Islands, due to uncertainty surrounding the precise operational requirements of the 2005 UK Gambling Act.
The group, which earlier this month confirmed it had received a preliminary bid approach, said the transfer and the move of its customer service function to Dublin are expected to result in an exceptional cost of around £13.5m in the year to 31st July 2007.
The move is likely to include the company’s European management team, and the European trading and marketing operations.
Sportingbet already holds a license in Alderney, and will be moving its licensable activities from the UK prior to 1st September this year.
Many remote gambling operators have been looking elsewhere to obtain their licenses, since the announcement by the UK of a vastly higher than expected tax of 15%. Alderney may become the biggest beneficiary of the UK’s actions.