Table of Contents
- Entain CEO Warns of UK Gambling Tax Rise Impact
- The Risks of Higher Gambling Taxes
- Proposed Tax Changes and Industry Impact
- Latest News
Entain CEO Warns of UK Gambling Tax Rise Impact
Entain CEO Stella David warns that the UK gambling tax rise planned for the November budget could force the company to close betting shops across its 2,300 outlets and reduce investments in the UK. She explains that higher taxes would likely make some shops unviable. As a result, this could push players toward unregulated black market operators, which do not return tax revenue or protect players.
The Risks of Higher Gambling Taxes
David points to the Netherlands as an example where raising gambling taxes caused tax revenue to drop. This happened because players moved to unlicensed sites. She stresses that every tax increase brings consequences, hurting both government income and player safety. Moreover, she warns, “The biggest winner would be the black market. They take cash out of the UK easily, and their profits never come back to UK taxes.”
Proposed Tax Changes and Industry Impact
Chancellor Rachel Reeves plans to raise duties on remote gambling, slot machines, and non-racing bets. These changes could generate £3.2 billion for the Treasury. However, they also risk jobs and investments in the UK. Entain employs over 14,000 people in the UK and contributed £513 million to taxes last year, showing its economic importance.
David adds that Entain might shift focus to other markets if UK tax increases continue, although the company has no immediate plan to move its listing abroad.
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