The Newshound

Ladbrokes and Grosvenor bosses warn Healey that Budget gambling tax raid will trigger closures and job losses

The interior of a Grosvenor Casino, whose parent company Rank Group warns that any rise in Machine Games Duty would force venue closures and halt investment.
The interior of a Grosvenor Casino, whose parent company Rank Group warns that any rise in Machine Games Duty would force venue closures and halt investment.

The chief executives of Entain — the parent company of Ladbrokes and Coral — and Rank Group, operator of Grosvenor Casinos and Mecca Bingo, have written to Chancellor John Healey warning that additional tax increases at this month's Budget will drive betting shops and venues out of business. Entain CEO Stella David cautioned that steeper taxes would 'threaten the viability of many shops, jobs and livelihoods'. Rank's Richard Harris argued that higher machine games duty would 'halt investment' and lead to redundancies. Both warnings come ahead of Healey's Budget on 28 October, at which further gambling tax rises are widely anticipated.

Remote gaming duty on online casinos and slots already climbed from 21% to 40% in April, following last year's autumn Budget.

Harris said Budget speculation is 'already weighing heavily on investor sentiment' and threatening Rank's investment plans.

Six major betting firms, including Flutter, Bet365, Betfred and Evoke, separately wrote to Healey warning hundreds of bookies could close, costing thousands of jobs.

MoreDaily MailBudget tax raid on gambling will trigger jobs bloodbath, Healey warnedAOL News UKUK gambling tax hikes could cause closures and job cuts, Entain and Rank warnYorkshire PostGambling tax increases will cause job cuts, say Entain and Rank - Yorkshire PostCity AMEntain and Rank warn Budget tax hikes threaten betting shops and jobs - City AMEvening StandardGambling tax hikes will cause closures and job cuts, say Entain and Rank
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