Ladbrokes move headquarters from Norfolk to Northern Territory
ENGLISH bookmaking giant Ladbrokes has relocated its Australian headquarters from Norfolk Island to the Northern Territory, the move bringing it in-line with most major bookmakers in the country.
Ladbrokes Australia clients received an email detailing the company’s intentions to operate under a NT license issued by the Northern Territory Racing Commission (NTRC).
Since entering Australia in 2013, Ladbrokes has operated out of Norfolk Island, but the troubled gambling authority is under review, which has forced them to move to the more stable NTRC.
The email from the company stated the “change means that (clients) will have the peace of mind of knowing that (they) are dealing with a bookmaker that is licensed by the Northern Territory Racing Commission, Australia’s pre-eminent licensing authority for bookmakers.”
The Norfolk Island Gaming Authority was stripped of its licensing-issuing powers in April after a federal government’s directive decreed it could no longer make any decisions on license approvals, transfers and variations “without ministerial approval.”
A representative for Ladbrokes said the concern stemmed from ‘uncertainty’ relating to the new legislation, which could have further implications to its betting operations.
The decision to switch to Australia’s top-end comes on the back of betting exchange Betfair Australia’s announcing a shift from Tasmania to the NTRC.
The move Betfair made is believed to have been prompted by a piece of NT legislation that gives bookmakers favourable tax and licensing fees.
The Tasmanian government is believed to stand to lose over $2 million in revenue based on Betfair’s switch to the Northern Territory.
The new License for Ladbrokes comes into effect on Wednesday the September 28.
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