By Julian Goldsmith, 25 July 2001 08:30
NEWS Irish bookmaker Paddy Power is transferring its internet and telephone betting operations to the UK to take advantage of the country's abolition of betting duty. The company's internet betting service offers tax-free betting to Irish and UK users. Up to now, duty on bets made was subsidised by the company. In its half yearly report published yesterday, Paddy Power said that subsidy had hit its bottom line, although its internet arm had generated £14m revenues.
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