Key Moments:
- Sky Bet has moved its headquarters to Malta, aiming for increased operational efficiency and cost reductions.
- The company transferred its sportsbetting activities to SBG Sports Limited’s Maltese branch.
- Steve Birch confirmed that commercial and marketing leadership will transition to Malta beginning November 1.
Headquarters Relocation and Financial Impacts
Sky Bet has officially switched its headquarters from the United Kingdom to Malta, a development that is anticipated to significantly reduce its annual UK tax obligations by tens of millions of pounds. This restructuring occurs as the government faces fiscal pressures, with public finances described as being under strain.
The move comes amid heightened calls on the government to raise tax revenues, particularly through higher duties imposed on the betting sector. The industry is said to be actively opposing these potential increases.
Details of the Transition
Sky Bet, referring to itself as “the UK’s No. 1 betting app,” has transitioned its sportsbetting operations to the Maltese office of SBG Sports Limited, a newly established UK entity.
The company’s parent organization, Flutter Entertainment PLC, first disclosed the plan to staff in June. The announcement was paired with the intention to make approximately 250 UK employees redundant. Flutter reached its workforce based in Leeds, Sunderland, London, Dublin, Gibraltar, Porto, and Cluj through a live-streamed meeting, explaining that the relocation was motivated by the desire to achieve operational efficiency and cost savings.
Operational Changes and Leadership Perspective
Steve Birch, chief commercial officer of Sky Betting and Gaming, stated that from November 1, “day-to-day commercial and marketing decision making will take place in Malta,” highlighting that despite this shift, Sky Bet’s Leeds office will remain one of the largest venues within Flutter’s global portfolio.
| Aspect | Details |
|---|---|
| New Headquarters Location | Malta |
| UK Redundancies Announced | Approximately 250 employees |
| Effective Date for Leadership Change | November 1 |
| Parent Company | Flutter Entertainment PLC |
| UK Office Status | Leeds office remains one of Flutter’s largest |
- Author
Daniel Williams
