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Industry
November 4, 2024
Reeves Says No to Online Gambling Tax Hike, Sparks Criticism
Last month, we reported on the Labour Party’s plan to consider a £3 billion tax hike for gambling companies, mostly aimed at online casinos and sports betting activities. Chancellor Rachel Reeves and ministers were then pondering a rise in the online gambling taxes from 21% to 50% that would have boosted public finances by roughly […]
Industry
October 31, 2024
UK Gambling Operators Catch a Break as Government Delays Tax Hike
Gambling companies operating in the UK, like Flutter Entertainment and Entain, are breathing a sigh of relief today as the UK government’s newly released Autumn Budget leaves gambling tax rates untouched, staving off an anticipated hike that loomed over the industry. While the country’s gambling sector will likely see tax increases in the long term, […]
Industry
October 30, 2024
Labour Government Decides Against Raising the Gambling Tax
Two weeks ago, reports suggested that the new Labour government might be considering a tax hike for the gambling sector. These rumors sent shockwaves across the industry, causing operators’ stock to slump. However, gaming companies can rest easy now as no tax hike is on the horizon. No Tax Hike for the Gambling Sector The […]
Industry
October 30, 2024
Holland Casino and Unions Unite Against Gambling Tax Hike
Holland Casino, the Netherlands’ state-owned gambling operator, has joined forces with some of the country’s most influential labor unions to fight against an impending gambling tax increase. They warn that the government’s measure will severely impact the company’s bottom line and potentially leave thousands of people unemployed. The Tax Increase Could Hurt the Regulated Sector […]
Industry
October 16, 2024
Brazil’s President to Discuss Credit and Billionaire Taxation with Bankers
At the start of the month, we reported on Brazil’s sports betting industry facing a potential ban unless proper regulations addressing the potential harms of gambling were not addressed, as warned by President Luiz Inacio Lula da Silva. The country that made betting on sports legal in 2018 never reached the point of also officially […]
Industry
October 16, 2024
Flutter CEO Advises Moderation in Taxation as Tax Hikes Continue
Peter Jackson, Flutter Entertainment’s chief executive officer, believes that the ideal online sports betting tax rate would be 18%. In an interview with The Financial Times, he shared his tax-related opinions about the US wagering sector. Flutter’s CEO Promotes a Golden Middle Jackson’s proposed tax rate is noticeably higher than the tax rate of certain […]
Industry
October 15, 2024
More Than Half of UK Residents Support iGaming Tax Hike, Survey
Ahead of the release of the UK government’s Autumn Budget, a newly released study suggests more than half of the Brits support the idea of increasing taxes for online gambling. Three Quarters Support Raising Gambling Taxes Recently, the Labour Party in the country encountered a £22 billion ($28.7 billion) “black hole.” In an effort to […]
Industry
October 14, 2024
France’s Gambling Tax Remains Unchanged for Now
France was reportedly mulling over following in the footsteps of other markets and increasing its gambling tax further. While this didn’t happen, the industry is not completely out of danger yet. The Latest Bill Did Not Include a Tax Hike Proposal Financial expert Les Echos had suggested that the 2025 Social Security Financing Bill would […]
Industry
October 14, 2024
BGC CEO Unamused at Reported Gambling Tax Hike Proposal
Britain’s plans to introduce a tax hike do not sit well with the Betting and Gaming Council, which argued that the new proposals are based on “fantasy economics.” In an interview with gaming news outlet NEXT.io, CEO Grainne Hurst expressed her concerns about the mulled tax changes, saying they could harm the legal industry. Hurst […]
Industry
October 14, 2024
Labour Party Considers £3bn Tax Hike for Gambling Companies
The gambling sector in the UK is currently going through regulatory changes amid the government’s efforts to make the rules suitable for the digital age. While the changes are related to the White Paper following the review of the Gambling Act, a new report suggests some gambling operators may be affected by a tax hike. […]
