Ladbrokes owner Entain swings to £681m loss after Budget gambling tax hit
Entain, Ladbrokes' owner, reported a £681m loss for 2025 due to a £488m impairment charge linked to UK gambling tax increases.Summary
Entain, the owner of Ladbrokes, experienced a significant loss of £681 million in 2025, compared to £461 million the previous year. This downturn was primarily attributed to a £488 million impairment charge resulting from the increased gambling taxes announced in the UK's November Budget. The tax changes, impacting remote gaming and general betting duties, are expected to reduce earnings by approximately £100 million in 2026 and £150 million annually from 2027, despite mitigation efforts like reduced marketing spend. Despite this setback, Entain's net gaming revenue increased by 3% to £5.33 billion, and its joint venture, BetMGM, showed strong performance with a 33% increase in turnover to $2.8 billion and a turnaround to $220 million in earnings. Entain aims to offset over half of the tax liability by 2027 through cost reductions and anticipates generating at least £500 million in annual adjusted cash flow by 2028.
(Source：Business Live)