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New License For Foreign Operators
The UK government has announced that there will be a new license for foreign operators. All UK casinos operating from abroad must apply for this license.
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Porto,
Porto,
Portugal
(PRBD.net)
8/26/2011 12:00:00 AM
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Casinos that are based out of the UK have been suffering and complaining for a while now. According to them, the government has been taxing them unfairly. Many of these British companies have filed written complaints as well about the unfair government regulations. Government authorities in the UK could not ignore these complaints anymore and recently, they have announced new gambling regulations for online casinos operators who are located abroad. According to reports, new license for foreign operators are to be issued soon.
The Department of Sports, Media and Culture now agrees with the fact that casinos located in the UK are unfairly taxed. Casinos located in the UK pay a lot of tax while, those under online gambling jurisdiction, and located elsewhere, pay far less in tax. These companies are allowed to publish their advertisements at UK online casino and gaming sites, and can attract the same target group of customers. Foreign websites are allowed to collect revenues from people in the UK. Calling this practice unfair, a lot of local companies left with no other option, decided to move abroad. This has naturally been resulted in revenue loss for the government. The government’s revenue collection from casinos has been going down for a while. It is only now that the UK government has finally woken up to the reality of this situation.
As per new gambling regulations, casinos targeting the UK market and located abroad must now have a secondary license. This new license for foreign operators will be issued by the UK Gambling Commission. This rule gives a level playing field to all casinos, whether they are located in the UK or abroad. Online Casinos located outside are also required to report all instances of illegal betting practices. These reports are to be sent to the UK Gambling Commission. The British government is hoping that this will help prevent instances of betting corruption.
There are no exceptions to this rule and all casino companies that had earlier shifted base to the Isle of Man and other places will have to comply. They must apply for a new license to continue their operations in the UK. The government is assuring them that licenses can be obtained easily. There will be a new licensing fee that they have to pay. Industry experts are saying that the government will be changing the tax structure as well soon. This is to ensure that companies abroad do not get an unfair advantage. This move is also expected to stop other companies from moving out. In fact, it is expected that a few of them may actually return to the UK in time.
The issuing of new license for foreign operators is certainly expected to shake up the industry. Local Online Casinos companies are happy with the move. Companies that are based abroad have not yet commented on this issue.
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