Belle Rock Entertainment Dismiss Fears for Gamblers Following Tax Hike

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Apr 05, 2012, 10:06 ET

LONDON, April 5, 2012 /PRNewswire/ --

George Osborne, the current Chancellor of the Exchequer, revealed in his budget on 21^st March that the taxation on gambling firms operating in the UK has been increased. This led to a number of journalists forecasting doom-and-gloom for gamblers and the gambling industry in Britain.

Belle Rock Entertainment, the online casino, has quickly moved to quash these fears stating that these taxation laws are aimed at businesses and not the players themselves. The company also says that Mr Osborne's new budget has chiefly targeted the sports betting arm of organisations such as William Hill and Ladbrokes, who have moved their offices to places like Malta and Gibraltar to avoid high levels of taxation.

With its budget, the coalition government is proposing that all offshore gambling companies should be taxed on the profits that they make in the UK. This means that each company will incur extra costs, but it will still be worth their while trading in Britain. Belle Rock Entertainment, as a result, has concluded that Mr Osborne's taxation changes will have little or no impact on players who enjoy online casinos.

The gambling industry was more surprised, however, by Mr Osborne's new Machine Games Duty. Industry analysts believe that this new 20% duty, that will become effective from February 2013, will have a major impact on UK pubs and leisure groups.

The Association of British Bookmakers has been understandably disappointed with the rate of the Machine Games Duty. The organisation believes that the announcement could place approximately 11,000 jobs at risk.

"While we share our sympathy with many bookmakers, pubs, and leisure groups that may be affected by the change in UK taxation laws and the new Machine Games Duty, we are pleased to reveal that our online casino will still be operating the same high-quality service," said Steve Houston of Belle Rock Entertainment. "Our players can still count on us for a great range of casino games, including online blackjack, online roulette, and online slots."

SOURCE Belle Rock Entertainment