Ladbrokes and the £71 million tax

26 Mar 2018

Ladbrokes CoralBack in 2008 the UK tax system had several "holes", which many companies rushed to take advantage of, regarding loan taxation involving third parties. Once the state found out, it quickly modified the corresponding laws and regulations, which resulted in many companies having to pay their dues retrospectively. As a result, Ladbrokes found itself back in 2015 having to pay £71 million on taxes, which made the company suffer a major damage. In response to the enforcement of this decision, the company made an appeal to the Upper Tribunal of the Tax and Chancery Chamber (UTTCC), questioning its validity.

The Chamber found the appeal to be unjustified, but Ladbrokes took it one step further. The company took the case to the UK Court of Appeal, which led to a second rejection to their statement that their taxation was not called for. The operator once again accepted the Court's ruling and mentioned that the taxes are either way already paid, and they won't influence their financial standing.

There is also solid information that GVC is close to a deal, according to which the group will acquire 53.5% of Ladbrokes Coral, a deal worth $1.4 billion in approximation.

About Ladbrokes Coral

The British operator has been in business for more than 100 years and has an approximate revenue of more than $2.1 billion. It is active in numerous markets and operates 10 different brands, the most well-known being Coral, Eurobet, GalaBingo and Betdaq. The company is on the London Stock Exchange and in 2016 acquired Gala Coral Group, which was when the group's name changed to Ladbrokes Coral. The group's main offices are located in London. It used to own the Hilton hotel franchise for all non-US locations from 1999 up to 2006 and the group then was called Hilton Group plc.

Why choose Ladbrokes

The betting grandfather
  • UKGC & Gibraltar licenses
  • 35+ sports
  • Player Specials in football
  • Bet Builder & Request a Bet
  • Live Streaming
  • Mobile apps
  • 24/7 Customer Support
  • High winning limits
Play Now
Get the Best Odds
BOOK SPY
BOOK SPY BONUS REVIEW

With over 100 years of experience, Ladbrokes is one of the most familiar betting brands in the UK. It is one of the few companies that has moved to racecourse management by acquiring Lingfield Park in 1975 and one of the few that offers both fixed odds and betting exchange. It has managed to retain a top spot by combining the advantages of being an established High Street bookie with providing new technologies and keeping up with the gamification trends. The sportsbook has proven its innovative spirit, with the addition of features like the unique 5-A-Side service. In terms of safety and stability, Ladbrokes ticks all boxes. Nevertheless, there are a couple of areas I would like to see some improvements. First of all, the payout is below par even for the top sports like football and tennis. I would expect a bookmaker of this caliber to offer higher odds to players. Also, like other Entain brands, they tend to limit winning players quite fast. Finally, I would like to see them reopen to more countries in the near future. All in all, Ladbrokes guarantees an action-packed environment, no matter which sport you want to bet.

Join and grab exclusive bonuses, daily offers and free bets!

Lay hands on exclusive daily bonuses for members only. These promos are limited and are not advertised on the website.

Yes, I have read the Terms & Conditions and I consent to receiving emails from Bookmakers.bet regarding betting promotions, betting guides and news.

BOOK SPY

After a week off due to national team fixtures the English Premier League returns to action, and what a better way to do start matchday 9 than with th...

Read more »

Gambling can be traced in Germany all the way back to Roman times when soldiers were playing several forms of dice games. At some point after the intr...

Read more »

The UK Gambling Commission fined online betting operator Betway £408,915 for marketing on the kids’ section of the West Ham United Football Club...

Read more »

The 2021 report from the Malta Gaming Authority (MGA) has been released. The MGA generally took less regulatory actions, such as issuing fewer warning...

Read more »

The 2022 European Cricket Championships, held in Malaga, Spain, now have Stake.com as an official partner. The T10 competition, in which 21 national t...

Read more »

Just one week after an impressive 49-goal matchday 1, UEFA Champions League action is back. Among all the exciting events, the one that stands out the...

Read more »

LeoVegas Group, the renowned igaming operator, disclosed on Thursday that English Premier League giants Manchester City is the subject of a new partne...

Read more »

The moment football fans worldwide have been waiting for has finally come. The 2022-23 UEFA Champions League season is officially underway with 8 matc...

Read more »

After expanding into Colorado, their second active US state so far, Bet365‘s presence in the North American market has grown. Bettors in the Cen...

Read more »

The 2022 summer transfer window ends on the night of September 1st. As the deadline day is rapidly coming close, top European clubs are looking to sea...

Read more »

LATEST BOOKMAKER PROMOTIONS