Ladbrokes Move to Gibraltar Happening

When leading UK land and online gambling firm Ladbrokes announced in August this year that it intended to relocate to the online gambling friendly-jurisdiction of Gibraltar to escape the UK's high online gambling taxes and levies, many expected the UK government to lower taxes.

However, that has clearly not happened as the government has not budged an inch on its tax rates. And so Ladbrokes, which has been a UK high street betting institution and powerhouse for many decades, is making its move to greener - and more tax-friendly - pastures, reportedly sooner than expected.

According to UK online gambling insiders, the move from its old London headquarters to the picturesque British territory (located at the southern end of the Iberian Peninsula in the Mediterranean) is underway and should be completed in the next few weeks. Its rival, William Hill, has already made the move.

Executives at William Hill, another top UK land and online gambling firm, were also unhappy with the government's online gambling taxes and preceded Ladbrokes to Gibraltar. Although online gambling is legal and regulated in the UK, gambling companies claim that high taxes are making them uncompetitive.