One of the UK’s largest gambling firms, Sky Bet, has relocated its headquarters to Malta – in a move that could cut its UK tax bill by tens of millions of pounds a year.
The change will mean less money for the government at a time when the public finances are under strain.
The chancellor needs to increase tax revenues and is under pressure to levy higher duties on the betting industry – something the industry is aggressively campaigning against. Sky Bet, which describes itself as “the UK’s No. 1 betting app,” has moved its sports betting business to the Maltese branch of a new UK company, SBG Sports Limited.
