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Online Casino Sites Might See Victor Chandler Return

Victor Chandler, along with many other online casino executives, have come together to appeal to the representatives of the UK for reasonable gambling tax concessions. The new UK Gambling Act has not yet granted such concessions, causing Chandler to move his online casinos offshore to Gibraltar. Chandler claims that if the law was to change and a favorable tax regime was to be implemented, he would consider re-locating his online casino operations back to the UK.

Today, a number of international clients who belong to the famous bookmaker take advantage of the tax-free betting offered at his online casino sites. In 1999, Chandler was one of the pioneering operators to move his online gambling operations to Gibraltar for the sake of working under a sensible tax regime. ‘It will be interesting to see what the (UK) government does because they could end up making laws to ensure the industry is properly regulated but then, if they get the tax system wrong, they’ll have virtually nobody to regulate because everyone will stay where they are. For an operator like me, the only way they’d stand to get us back to the UK is through what I’ve got here, corporation tax, like any other business, and nothing else,’ Chandler stated. So far, the UK has abolished tax on betting stakes and is working to devise a revamped regulatory and taxation system for online casino operators and poker sites.

Online casino operators as well as online gambling fans will all be closely watching the developments of the UK Gambling Act’s changes and amendments. If the UK truly wants Victor Chandler, and other well-known online casino operators, to return to their homeland, the current tax system will need a significant makeover in order to appeal to these online casinos giants.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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