Sportingbet moving operations to Channel Islands
The company said it is making the move offshore because there remains uncertainty surrounding the precise operational requirements of the 2005 U.K. Gambling Act. The Channel Islands are subject to different laws and financial regulation than the mainland U.K.
“With ever-limited time remaining to adopt the eventual requirements, the board has now concluded that its most prudent course of action is to transfer those activities that it anticipates may be covered by the Act to a jurisdiction that has a more defined regulatory environment,” Sportingbet said in a statement.
The company will move all licensable activities from the U.K. to the Channel Islands by September 1st. Sportingbet expects to incur a 13.5 million pound charge in the year to July 31 as a result of the move.
Sportingbet has been reorganizing the business since the passage of the Unlawful Gaming Enforcement Act forced out online gambling operators from the U.S.
3 Oaks Gaming expands Hold & Win slot collection with 777 Fruity Coins launch
Nevada Rep. Titus pledges to strike gambling tax provision from US Senate budget bill
Platipus Gaming launches new fruit-themed title Juicy Sevens Jackpot
Stretch Network unveils €1.3 million Summer Poker League
Rivalry reports lower net loss at $16.52 million in 2024 amid strategic overhaul
Platipus Gaming launches new fruit-themed title Juicy Sevens Jackpot
3 Oaks Gaming expands Hold & Win slot collection with 777 Fruity Coins launch
Gaming in Germany Conference set for November 11 edition in Berlin
iGB L!VE opens at its new ExCel London home with goal of breaking 2024's attendance record
SBC Summit 2025 to explore iGaming innovation through new Technology Stage
