Flutter Entertainment has moved operator SkyBet's headquarters to Malta to save on taxes

The move will save the company about $72m annually.

Tax consultant Dan Neidl commented that: «I know many people who have moved to Malta. And they all did it either for the sun or to avoid taxes. I don't know anyone who went there for any other reason.». It's hard to argue with that. By the way, there is at least one other island in the world that could be said the same way.

However, he noted that this decision is quite risky. It would be expensive to move employees and their families to Malta. In addition, if the legislation of Malta or the UK changes in the future, both the company and its employees may simply be stuck on the island.

The Flutter office in Leeds (UK) will remain, albeit with a smaller team. The key operational decisions will be made in Malta and implemented in Leeds.

Flutter's other two UK brands (Paddy Power and Betfair) are registered in Ireland and also in Malta. And the company itself recently moved its stock exchange listing to New York, leaving a secondary listing in London.