BOOKMAKER William Hill will maintain its online betting base in Gibraltar despite a tax clampdown that will cost it tens of millions of pounds.

The announcement follows a decision to impose a 15 percent duty on bookmakers’ online winnings from British customers with effect from December 2014, a move that is expected to generate around 300 million pounds a year

William Hill Online has set up a new office in an area of east London known as “Tech City” where a number of online start-up companies have made their home.

However, company executives said this should not be seen as a sign of retreat from Gibraltar.

“We have over 400 people in Gibraltar, we run our global operations from there,” said Andy Lee, managing director of William Hill Online.

“Our staff are very happy there and there are reasons why we will remain there in order to be competitive in this market,” he told reporters.

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