Betfred Closes 132 Betting Shops as UK Tax Pressure Mounts
Remote gaming duty rose to 40% in April, and a new betting rate is due from April 2027.
Remote gaming duty rose to 40% in April, and a new betting rate is due from April 2027.
Higher gambling taxes and weaker trading cut first-half revenue, while the UK and Dutch businesses stayed under pressure.
TNLC and Northern & Shell failed to reopen the case, with judges saying their chances of success were vanishingly small.
The gambling group says low trading volumes and higher compliance costs make its remaining UK market unnecessary after its move to New York in 2024.
The rollout brings Mega Moolah, WowPot and King Millions to the UK, Sweden and Mexico, with localised jackpots in Ontario and Brazil.
Reports differed on the size of the financing, but the company said the money will support acquisitions, working capital and refinancing needs.
Two-year scheme with WCVA will back community groups working on prevention, early intervention and support across Wales.
Revenue excluding brand licensing rose 9% and adjusted EBITDA 16%, even as remote gaming duty jumped to 40% in April.
The UK gambling group’s debt and Britain’s tougher tax regime add to the pressure around a possible sale.
The Isle of Man company says its audits test safer gambling, AML and KYC controls in practice, not just on paper.