Richard Desmond has shifted his residency to the United Arab Emirates as his courtroom battle with the Gambling Commission gets underway, City AM can reveal.
The media billionaire posted the update late on Wednesday via a Companies House filing for Northern & Shell, a firm he owns which is involved in the legal dispute alongside The New Lottery Company, which he also controls.
The move adds Desmond to a growing list of high-flying execs who have switched their residency away from the UK to lower-tax jurisdictions following the abolition of the so-called non-dom regime.
It comes just a week after Revolut’s billionaire co-founder, Nik Storonsky, made the same move.
Northern & Shell did not immediately respond to a request for comment.
Claims that Rothschild had links to Allwyn
Desmond’s residency shift comes just days after a legal battle kicked off following a row over the licence to run the National Lottery, which was ultimately awarded to Allwyn, a rival of Desmond’s New Lottery Company.
Desmond’s lawyers argued that Allwyn repeatedly, systematically, and seriously breached the Media and Communications Protocol through unauthorised media engagement and criticism of the National Lottery brand and the incumbent, Camelot.
It was alleged in their opening statements that the regulator failed to properly investigate this, and it was suggested that this should have led to Allwyn’s disqualification.
Desmond’s lawyers dragged the financial advisor, Rothschild, into their case.
Rothschild was appointed by the Gambling Commission in July 2019 to act as the lead financial consultant/advisor for the fourth National Lottery licence.
However, it was outlined that Rothschild had a prior commercial relationship with Allwyn.
The argument to the court was that the Gambling Commission failed to identify, prevent, or resolve conflicts of interest involving Rothschild, as it had a pre-existing relationship with the winning bidder.
The group previously stated that Northern and Shell has incurred costs of almost £20m in its bid to win the lottery contract and is now suing for alleged loss of profits and wasted bid costs.