The Paddy Power and Betfair owner, Flutter Entertainment, has warned the budget move to increase UK gambling taxes will hit its annual profits by $860m (£650m) over the next two years. The chancellor, Rachel Reeves, announced on Wednesday that remote online gaming duty would rise from 21% to 40%, while online sports betting – excluding […]
Online casinos and bookmakers will pay billions of pounds more in tax under a steep rise in duties levied on their takings from British gamblers. Shares in UK gambling firms began tumbling even before Rachel Reeves announced the change in her budget, after the Office for Budget Responsibility (OBR) – which assesses the likely impact […]
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