Connect with us

Industry News

GVC Holdings Considers Tax Residence Relocation from Isle of Man to UK

Niji Narayan



GVC Holdings Considers Tax Residence Relocation from Isle of Man to UK
Image Source:
Reading Time: < 1 minute


GVC Holdings is going to relocate its tax residence from the Isle of Man to the United Kingdom.

Jay Dossetter, head of media relations at GVC, said that the move will increase the company’s efficiency by allowing key meetings to be based closer to its largest market.

“The main reasons for making the move is that under the group’s current Articles of Association and tax residency we are unable to hold Board meetings or shareholder meetings within the UK. The proposed change will give us the ability to hold full board and board committee meetings in the UK, which will reduce operational complexity and enhance governance, and in turn, will increase efficiency and reduce costs. It also means that future shareholder meetings can be held in the UK,” Dossetter said.

Dossetter added that articles of association that located the company’s place of management on the Isle of Man came at a time when GVC was much smaller and long before its 2017 acquisition of Ladbrokes Coral. As a result, he said the move is more fitting with GVC’s place in the gaming market today.

“The previous articles were drafted back in 2010 when the group was a radically different business, these changes reflect where the company is today,” Dossetter said.

“The relocation is just for the top holding company and has no impact on staffing or the operational side of the business. It has no impact of our tax bill or the effective tax rate we pay. Operationally, the online business will continue to be run from Gibraltar and the UK retail estate from the UK,” Dossetter added.

NSoft at ICE2020

Global Gaming Industry Newsletter – Weekly Digest (sent every Wednesday)

Please select all the ways you would like to hear from European Gaming Media and Events:

You can unsubscribe at any time by clicking the link in the footer of our emails. For information about our privacy practices, please visit our website.

We use Mailchimp as our marketing platform. By clicking below to subscribe, you acknowledge that your information will be transferred to Mailchimp for processing. Learn more about Mailchimp's privacy practices here. Read more about European Gaming Media and Event's Privacy Policy and Terms of Service.

Subscribe to our News via Email

Enter your email address to subscribe to our news and receive notifications of new posts by email.

Latest by author


Notice for AdBlock users

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.