Tax Hikes Threaten UK Gambling Industry

Britains gambling industry faces significant challenges following recent tax hikes, with warnings of job losses, shop closures, and a boost for illegal operators. The Chancellors Budget increased taxes on online casinos and sports betting, but spared horse racing and abolished a bingo duty. Major companies like Evoke and Flutter Entertainment express concern, predicting job cuts, reduced investment, and increased market share for unlicensed operators. Analysts anticipate consolidation in the online industry and the closure of many betting shops.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.