William Hill is against profit tax
UK bookmaker William Hill is to consider legal action against a proposed new online tax that will cut 15% from all online gaming profits from the end of next year, according to The Daily Express newspaper.
The bookmaker recently posted an 8% rise in operating profit for the first half of the year, as well as a revenue increase of 20%. In addition, the firm’s online business experienced significant growth – as online revenue grew 18%, while mobile betting figures jumped by an impressive 112%.
With a large part of these figures coming from online gaming sources, the bookmaker is keen to fight the new ‘point of consumption’ tax, which would greatly impact any future online profit figures.
Ralph Topping, chief executive at William Hill, said there is “every chance” the bookmaker will make a challenge.
He added: “The government needs to get real on regulation. They are too upper class. They need to become naked ramblers and go on a walking tour of the country to see how ordinary people live.
“Those in Strathclyde and Strathaven don’t read poetry or go to the opera. They are working class people with less cash than before who want to entertain themselves with a wee pint, a wee fag and a wee bet.”
Meanwhile William Hill has partnered with betting tips and previews website FootballTips.com to launch a free bet offer for new customers ahead of the 2013-14 UK football season.
The initiative will entitle all customers that open a new William Hill account to a £25 free bet. To gain access to the offer, customers should input the promotional code “MAXCASH” when opening an account.