The UK’s three biggest gaming firms have suffered major share price dives ahead of Reeves’ business-bashing budget. Yesterday the FT reported fresh Treasury briefings that online sports-betting firms will be hit with higher tax rates…
In the last month:
- Flutter’s shares are down 23.7%
- Evoke’s shares – owner of William Hill – are down 14%
- Entain’s shares – owner of Ladbrokes – are down 13%
That’s £8.5 billion in shareholder value torched as firms brace for tax hikes. Meanwhile trade body Bacta has warned that thousands of jobs in amusement centres could face the axe if Reeves raises gambling taxes. A reminder that the gambling industry contributes £4.1 billion to the economy and generates £300 million in annual tax revenue. A bad bet from Reeves…
