Culture Secretary Lisa Nandy has said she wants the gambling industry to “thrive” amid rumours of a multi-billion pound “tax raid” on bookies. Earlier this week, gambling firms saw their shares tumble amid fears the Government is planning to double some of the taxes paid by online casinos and bookies in the forthcoming Budget. Ladbrokes...
Category: Gambling
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Online Gambling in the UK: A Business in Crisis or a New Dawn? – London Post
The online gambling industry in the UK has long been a major player in the global gaming landscape, generating billions in revenue and employing thousands. However, as we step into 2024, questions loom over the sector’s stability and future growth potential. Is the UK online gambling business facing a crisis? Let’s see the current state...
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Gambling stocks hit by fears of UK Budget tax grab
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Shares of UK-based bookmakers fell sharply on Monday on concerns that the government could raise taxes on gaming companies in this month’s Budget. Entain, the London-listed gambling group that owns Ladbrokes, plunged by as much...
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Shares in UK gambling firms fall £3bn amid talk of higher taxes in budget
Shares in British gambling companies have dropped sharply, reducing the stock market value of large operators by more than £3bn, after the Guardian reported that Treasury officials could tap the sector for between £900m and £3bn in extra taxes. The chancellor, Rachel Reeves, has come under pressure from two influential thinktanks to raise taxes on...
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Operator share prices tumble as UK government considering gambling tax increase
Great Britain’s government is reportedly considering proposals that could see certain taxes on gambling operators double, in an effort to raise up to £3bn (€3.59bn/$3.92bn) in additional funds. One such proposal could see the remote gaming duty increased to 50%. Today, UK remote gaming duty sits at 21% of operator profits, this is based on...
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U.K. Gambling Stocks Fall on Reports of New Industry Taxes
By Cristina Gallardo British gambling stocks fall dragged by reports of government plans for a new tax raid on the industry. Shares in London-listed Evoke, Entain, Flutter Entertainment and Rank Group tumbled Monday on the back of the reports, which suggest that the U.K. government is aiming to raise up to 3 billion pounds ($3.92...
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Chancellor shrinks public funding pot for Britain’s new National Wealth Fund
Chancellor shrinks public funding pot for Britain’s new National Wealth Fund Jump to content
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UK: Labour considers up to £3bn tax raid on gambling firms
Saturday, October 12, 2024 4:47 PM Image aggregated from The Guardian. Rob Davies, The Guardian Email, LinkedIn, and more Ministers are considering a tax raid of up to £3bn on the gambling sector as Rachel Reeves casts around for funds to shore up the public finances. Story continues below Treasury officials are understood to be...
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Poacher turned gamekeeper: the gambler who turned tables on bookies and lobbies for UK tax rise
As a former professional poker player, Derek Webb is used to rising from the table holding more chips than he started with. Vanquished opponents are left scratching their heads, wondering how they have been bested by a softly spoken, bespectacled septuagenarian with a Derby accent. Now, the multimillionaire is going all-in on a new battle...
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Labour considers up to £3bn tax raid on gambling firms
Ministers are considering a tax raid of up to £3bn on the gambling sector as Rachel Reeves casts around for funds to shore up the public finances. Treasury officials are understood to be weighing up proposals, put forward by two influential thinktanks and backed by one of the party’s top five individual donors, to double...
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Regulator says COVID cost UK Gambling £1bn in economic output
Ted Menmuir, SBC News Email, LinkedIn, and more DCMS has revised its economic estimates, measuring the economic contribution and productivity of the UK Gambling sector. Economic estimates and datasets have been updated for DCMS’s key sectors for the reporting period of 2011 to 2021, tracking a decade of business activity. Story continues below DCMS is...
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Leading Trade Groups Announce Partnership
Posted on: October 10, 2024, 11:36h. Last updated on: October 10, 2024, 11:51h. Three of the world’s most prominent trade groups representing the interests of gaming operators in the United States, United Kingdom, and Europe have announced a pact. (L to R) Graine Hurst, CEO of the Betting & Gaming Council, American Gaming Association President...