|
The Sportingbet is set to Move
 March 29, 2007, 7:13 pm (4 years ago)Sportingbet plc, the British online gambling group, stated today that it would be relocating to the Channel Islands due to the uncertainty surrounding the precise operational requirements of the UK’s 2005 Gambling Act. The announcement advises interested parties that “given this uncertainty, and 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.”
“This is likely to include the group’s European management team, and the European trading and marketing operations.” The group has already been granted a license in the Channel Islands by the Alderney Gambling Control Commission and will be moving its licensable activities from the UK to the Bailiwick by the first of September of the year 2007.
The actual transfer of the group’s core operation to the Channel Islands and the previously announced move of the groups customer service function to Dublin are expected to result in an exceptional cost of around GBP thirteen million in the year to the thirty first of July of the year 2007.
When a company is trying to avoid the gambling laws they will do anything and everything in there power to get around the governments changes. In this case, it means that the company must pack up and move somewhere else that has less strict laws so that there company will be able to prosper. Online internet gambling really isn’t such a bad thing, but the government has strict rules and regulations that prohibit anyone from participating or funding on internet gambling. Which is morally wrong because it doesn’t matter who participates if they want to be involved they are not going to quit until they get what they want?
However, the government thinks by cutting off all the funding to the banks so that they cannot fund the online internet gambling that that will help them succeed to put all of it to the dogs. They couldn’t be more wrong. Internet gambling companies are not going to quit offering the services and the people are not going to quit getting there money. So why don’t they just go ahead and let things be so that in the mean time there can be a lot of money saved that doesn’t have to be put into moving for these companies.
Automatic Translation
|
Comments (0)
