Rank Group to face £40m operating profit reduction amid RGD increase
The operator stated increases in tax payments are proportionately offset by a £6m benefit 'arising from the abolition of bingo duty' as part of the UK Autumn Budget 2025 statement.
The operator stated increases in tax payments are proportionately offset by a £6m benefit 'arising from the abolition of bingo duty' as part of the UK Autumn Budget 2025 statement.
CEO Grainne Hurst has welcomed the land-based and bingo approach while highlighting the online tax rise as "devastating."
Senator Eduardo Braga plans to raise the betting tax gradually, reaching 18% by 2028.
The operator formed a multi-year partnership with the Kansas City Royals MLB franchise to gain market access in Missouri but was still under review for a sports betting license from the MGC.
Horseracing did not see an increase in betting duty, despite other sectors seeing taxes almost double. But will the knock-on effects from operators end up hurting horseracing anyway?
Not every gambling industry sector was treated equally when it came to the UK Autumn Budget earlier today.
Two municipalities in Brazil are defying sector limits as they plan to expand their operations.
The share prices of many major UK gambling companies, including Entain, Flutter, Rank Group and Playtech, have trended upwards following the Chancellor's address.
Comments from legal experts including Peter Wilson and Richard Williams - alongside the UK's Gambling Commission - shed light on the potential implications of these legislative changes.
The decision, which passed with only one dissenting vote, came after an initial application requested approval for a roulette-themed game.