888 Thinks UK Tax May Increase Market Share

UK gaming operators are bracing for a market share change, as the UK government to push through a new gaming bill into law adding a new point of consumption (POC) tax. While the Gibraltar Betting and Gaming Association promises to fight this new gaming bill in the higher courts, it isn’t all doom and gloom for the biggest gaming operators, including 888. If this bill is passed as expected, the POC will tax all UK facing operators 15% on their remote gaming gross profits beginning December 1, 2014. According to 888 Holdings’ 2013 financial reports, 41% or $163.3 million of…