Entain and Rank warn Budget tax hikes threaten betting shops

Summarised from 3 outlets · Updated 15 Oct, 09:32 · Archive

Two major UK gambling operators have warned that further tax increases in the Budget could force betting shop and casino closures.

Entain and Rank Group have warned that further gambling tax increases in the upcoming Budget could force betting shops and casinos to close, putting jobs and livelihoods at risk. Both companies urged the government to reconsider the reported proposals ahead of Chancellor John Healey's Budget on 28 October.

Entain chief executive Stella David said the UK has become an 'increasingly challenging tax environment' and warned that 'any further gambling tax increases would threaten the viability of many shops, jobs and livelihoods'. Rank Group chief executive Richard Harris warned that speculation over tax increases was already affecting investment plans and could lead to layoffs. He said any increase to machine games duty would 'increase costs, reduce venue viability, lead to venue closures and job losses'.

The warnings follow the government's increase of remote gaming duty, the tax on online casinos and slots, from 21 per cent to 40 per cent in April this year. The government is now reportedly considering increasing machine games duty, which taxes fruit machines, roulette machines and other slot machines. Entain reported that net gaming revenues increased by 4 per cent across the group in the third quarter, with UK and Ireland business growing 8 per cent. Rank reported a 5 per cent rise in like-for-like net gaming revenue in the three months to September.

How it is being reported

• Gambling tax hikes will cause closures and job cuts, say Entain and RankEntain, which owns Coral and Ladbrokes, said the UK has become an ‘increasingly challenging tax environment’.Independent Business · 15 Oct, 09:12
• Gambling tax hikes will cause closures and job cuts, say Entain and RankEntain, which owns Coral and Ladbrokes, said the UK has become an ‘increasingly challenging tax environment’.Evening Standard · 15 Oct, 09:12
• Entain and Rank warn Budget tax hikes threaten betting shops and jobsTwo of Britain’s biggest gambling operators have warned John Healey that further tax increases in this month’s Budget could force betting shops and casinos to close, putting jobs and investment at risk. Entain, the owner of Ladbrokes and Coral, and Rank Group, which operates Grosvenor Casinos and Mecca Bingo, issued separate warnings on Thursday despite [...]City AM · 15 Oct, 08:06

In this story: Entain · Rank Group · John Healey · Stella David · Richard Harris · Ladbrokes · Coral · Grosvenor Casinos

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