Major UK Betting Firm Sky Bet Relocates HQ To Malta

Sky Bet, one of the UK’s largest betting companies, has relocated its headquarters to Malta, ITV has reported.

According to the report, staff were first informed of this decision back in June, alongside a plan to make around 250 people in the UK redundant. Steve Birch, chief commercial officer of Sky Betting and Gaming, said that from November, “day-to-day commercial and marketing decision making will take place in Malta” but the company’s Leeds office will continue to be one of Flutter’s largest.

Workers were reportedly told that the Malta relocation was driven by a need to operate more efficiently and cut costs.

Sky Bet has since moved its sports betting business to the Maltese branch of a new UK company, SBG Sports Limited.

Quoting an insider at Flutter Entertainment PLC, Sky Bet’s parent company, the ITV report states that taxation played a significant role in the decision.

The report states that Sky Bet stands to save up to £55 million a year on tax as a result of the move.

Meanwhile, UK Chancellor Rachel Reeves has suggested taxes on betting firms could be increased in the upcoming Budget.