Chief executives from prominent betting firms in the UK have called on Chancellor John Healey to exclude any tax increases on gambling in light of the upcoming Budget announcement scheduled for 28 October. They caution that elevating taxes could result in further shop closures and job losses nationwide.
The Betting and Gaming Council (BGC) reports that the CEOs of various member companies have voiced their opposition to raising the gambling duties, particularly the proposal to increase the Machine Games Duty (MGD) from 20% to 40%.
Additionally, they have requested a delay on the planned hike of the General Betting Duty (GBD), which is set to take effect in April 2027. The executives argue that it’s crucial to assess the impacts of any previous tax increases before considering future adjustments.
The letter detailing these concerns has been endorsed by leaders from well-known firms, including Entain, bet365, Bally’s Corporation, Evoke, Betfred, and Flutter UK & Ireland.
The BGC warns of significant repercussions, noting more than 600 betting shops have closed down, leading to over 10,250 jobs lost or at risk. Major operators like Betfred, William Hill, Entain, bet365, and Paddy Power have already announced job cuts or closures due to increased taxation and declining economic conditions.
According to data from the UK Gambling Commission shared by the BGC, the number of betting shops across Great Britain has fallen by 38%. Moreover, the organization estimates that the government could face a potential revenue shortfall of up to £124 million (€146.8 million) as a result of these changes, while British horseracing could see losses exceeding £40 million (€47.3 million) from reduced levy and media-rights contributions.
Analysis by Regulus Partners further indicates that if the MGD is raised to 40%, the horseracing sector could incur annual losses up to £92 million (€108.8 million). As operators await the government's upcoming Budget, the industry stands anxious about its potential impacts on the UK’s betting and gaming landscape.
