RE: 15% down14 Oct 2024 08:32
Proactive. Idiot government to blame sigh
HM Treasury could hit the gambling industry with a £3 billion tax raid, it was reported at the weekend, as Rachel Reeves looks for ways to help fill the £22 billion 'black hole' in the public finances.
Proposals have been suggested by a pair of thinktanks to double some taxes levied on online casinos and bookmakers, the Guardian reported, backed by major Labour donor Derek Webb, a campaigner for tighter gambling industry regulations.
New taxes on betting or tweaks to gaming duties could be included in the 30 October Budget.
Shares in FTSE 100-listed Entain, the owner of Ladbrokes, Coral, Sportingbet and many others, fell 12.6%, while in the FTSE 250, William Hill owner Evoke was down 15.4%