Poker Stars To Licence On Isle Of Man
Published: Friday, June 24, 2005 Online-Casinos.com
POKER STARS TO LICENSE ON ISLE OF MAN
A wise move from the shores of Costa Rica
Media reports as Online-Casinos.com & InfoPowa went to press indicated that the successful online poker operation Poker Stars will be officially announcing its move to the Isle of Man this week.
Accounting for more than 10 percent of market share in the poker sector, Poker Stars will undoubtedly bring millions in revenue with it, and the island is likely to cash in on this agreement through a licensing fee and by collecting tax revenue. Recent changes to corporate taxation in the island have made for attractive levels of tax for groups like Poker Stars.
The reports argue that at this point, online gambling law gets tricky. Thanks to the island's change in law, Poker Stars believes it has the right to accept US bets. Poker Stars is banking on the fact that because the Isle of Man's defence and foreign policy is protected by England, it falls under the authority and laws of the World Trade Organisation.
The Poker Stars move has once again generated rumours that it might try to pursue a listing on the London Stock Exchange, a tactic that could further cement Poker Stars' legitimacy in the international business community.
PokerStars' move from Costa Rica will also help to increase its image throughout Europe, allowing them to target a new audience that will support its core of US users. Poker Stars is hedging its bet on its European success in another way as well. It is the main sponsor for the European Poker Tour and has launched a major advertising campaign in the U.K.
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