The relocation of company is connected with the improvement of tax and institutional environment in the region.
In April 2016, members of the Parliament of the Northern territory had approved the draft bill of legalization and licensing of services in the sphere of sports online betting. That is why Betfair Australia confirmed that will change legal address and will relocate the whole office to the new region, as SBC News reports.
12 employees of the company have already moved to the capital of the region Darwin. Betfair Australia plans to relocate the office completely by 20th of 2016, having paid to the local budget 800 thousand Australian dollars (about $600 thousand) as the registration fees.
At the moment the Northern territory is the house for 13 corporate bookmakers. Business conditions in the region significantly improved thanks to acceptance of the new bill licensing the activities of online bookmakers. In Tasmania Betfair Australia was registered since 2005, having paid to the local budget about 3 million Australian dollars ($2. 25 million).