Budget tax raid on gambling will trigger jobs bloodbath, warn owners of Ladbrokes and Mecca bingo
Owners of Ladbrokes and Mecca bingo warn that a Budget tax raid on gambling will cause closures, job losses, and reduced tax revenue.Summary
Entain, owner of Ladbrokes, and Rank Group, parent of Mecca Bingo, have warned that a new tax raid on gambling in the upcoming Budget will trigger a jobs bloodbath. They urge the Chancellor to reconsider plans to increase machine games duty, potentially doubling it to 40 per cent, which they say will lead to venue closures, job losses, and reduced tax receipts. The warning follows a letter from six major betting companies to John Healey. The industry already faces challenges from a recent increase in remote gaming duty. According to the Betting and Gaming Council, 600 betting shops and 10,000 jobs have been lost since the last Budget, and EY estimates that the proposed tax rise could cost up to 16,000 more jobs, put 1,500 betting shops and 34 casinos at risk, and leave the Treasury £124 million worse off.
(Source：Mail Online)