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IMPACT OF U.K. GAMBLING TAXES WILL BECOME APPARENT THIS WEEK
21st February, 2016 at 10:05:43
Corporate reports expected to show the financial impact of taxes on FOBTs and online gambling.
Corporate reportage from major UK bookmaking firms Ladbrokes
and William Hill
this week will illustrate the impact of government moves on fixed odds betting terminals and the 'place of consumption' online gambling tax, the Sunday Times noted over the weekend.
The expectation is that profits will be badly impacted by government moves to limit the number of FOBTs in each betting shop, and tax the profits from these lucrative machines at 25 percent, along with the first full year of new online gambling taxes, which include a 15% levy on profits.
It is anticipated that Ladbrokes will report a statutory loss after taking a huge write-down on the value of its betting shops and paying an extra £ 40 million in taxes last year, whilst William Hill is expected to report a 22% decline in full-year pre-tax profits after paying an extra £ 87 million in tax last year.
Related News Tags: Ladbrokes, William Hill
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