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Bookies warn they will move to Island

Thursday, 26 March 2009 20:30

British bookies have been warning that more taxes or regulation in this year’s budget could mean an exodus to the Isle of Man.

They have been holding meetings with United Kingdom government figures after suggestions tax on gross profits could increase from 15 to 17 per cent.

William Hill, Ladbrokes, and Gala Coral gave a presentation in which they claimed online bookies in offshore centres such as the Isle of Man would win the battle for punters if the tax went up.

They also warned that some firms could choose to relocate to offshore jurisdictions, including the Isle of Man.

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