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Ladbrokes confirms Gibraltar move for online gambling

10 Aug 2009

LONDON, England -- As reported by The Guardian: "Ladbrokes is shifting its online gambling arm to Gibraltar in a move that will cost the UK Treasury millions of pounds.

"The company confirmed this morning that, like rival bookmaker William Hill, it will defy a "gentleman's agreement" to keep running its internet operations in the UK.

"Chief executive, Christopher Bell, blamed "intense competitive pressures" for the decision, which industry experts had already said was inevitable following William Hill's move on Tuesday.

"Ladbrokes did not reveal how much it expects to save through the move..."

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