[P E O P L E
NEWS
]
POC TAX COULD COST 1,300
GIBRALTAR JOBS
Former chief minister Sir Peter Caruana warns of huge economic impact
introduction of new UK remote gaming tax could bring
Gibraltar’s economy would be hit hard by the
proposed 15% UK Point of Consumption
tax with 1,300 jobs under threat as a result,
the territory’s former chief minister Sir
Peter Caruana has warned.
Speaking to The Times, Caruana said
that the proposed tax rate would have a
huge impact and declared its timing – which
coincides with Spain imposing stricter
border controls and other restrictions on
the British Overseas Territory – to be a
“very unhappy coincidence”.
Research cited by Caruana and
conducted by Bournemouth University
economics professor John Fletcher in 2012
suggested that the Gibraltarian government
could lose up to £20m in revenue as a result
of the bill.
The Gibraltar Betting and Gaming
Association (GBGA) has warned that up
to 1,300 jobs – around one third of those
employed in the industry – could be lost as
UK-facing companies operating from the
territory look to restructure and downsize
in order to swallow the looming tax hit.
The UK regulation will allow licensees
to base staff and technology anywhere
in the world, a move that GBGA
commissioner Phill Brear told eGaming
Review contradicts what other major
licensing states in the EU and US have
sought to enforce.
“As recent and current licensing failures
show, thin, long distance regulation
encourages abuse of the licensing system,”
Brear added.
MORE CUTS AT LADBROKES WITH
56 JOBS UNDER THREAT
UK operator embarks on third redundancy round of the year as part of
continued cost-control measures
Ladbrokes could be about to cut as many as
56 jobs from its London headquarters as
the company continues to streamline its
operations, eGaming Review has learned.
Staff at the Rayners Lane office were
informed of the news with the job losses
set to impact a number of departments –
although it is thought the operator’s retail
arm could be the worst hit.
A Ladbrokes spokesperson confirmed
the number at risk, but refused to comment
further.
The company also began a redundancy
consultation involving 100 staff in May
and placed 75 roles under threat just two
months ago.
16
Of the 100 roles to have been cut in the
first round of redundancies, around half
were understood to have been redeployed
elsewhere in the company.
The redundancies follow a difficult
period for the operator which was recently
forced to deny speculation it was readying
itself to issue what would be its fourth
profit warning of the year.
Ladbrokes’ share price crashed to a
low of 178.5p following a leaked email
sent from Ireland-based brokerage firm
Goodbody Stockbrokers which suggested
the bookmaker’s full-year operating
profit forecasts were to be cut by £10m to
£135m.
NEWS
IN BRIEF
British bookmaker
Ladbrokes has appointed
Andrew Bagguley as mobile
and devices director to head
up its new mobile development
hub. Bagguley joins from
German telecommunications
company Deutsche Telekom
and will lead Ladbrokes’ new
mobile development hub,
working closely with mobile
development agency Chelsea
App Factory.
Paddy Power’s head of
egaming Isaac Ward has left
his role at the Irish operator to
join Australian operator Tom
Waterhouse. Ward is the latest
in a number of departures from
the operator in recent months
after Paddy Power head of
bingo Oonagh Flanagan left
to join Gala Coral as head of
marketing for bingo.
Gibraltar-licensed operator
888 has strengthened its
marketing division after
appointing former PKR global
head of marketing Erika
Schwartz Poole to head up
its offline marketing and
partnerships strategy. Poole is
tasked with launching a new
offline sub-brand, encompassing
its global live events, VIP offline
activity, brand ambassadors and
social activities.
Betfair’s digital director Ben
Carter has resigned after more
than four years at the exchange
and sportsbook operator. Carter
left Betfair last Friday to become
head of marketing at online
marketplace Notonthehighstree t.
com, however no replacement
has been lined up as of yet.
www.egrmagazine.com