CHANCELLOR George Osborne announced last week within the Budget that the MGD standard rate is to be set at 20 per cent when it comes into effect on February 1, 2013. It’s been reported that the government had previously indicated to the industry that it would not be a revenue raising measure, with many operators predicting that it would most likely be set around 16 to 17 per cent.
Responding to the announcement, Simon Thomas, chairman of the Hippodrome Casino in London told InterGaming that any tax increase is “unwelcome.”
“Treasury said it was to be a tax neutral rate and it is disappointing, when the industry has made clear that the tax neutral rate is lower than 20 per cent, that they have gone for 20 per cent,” he said. “I only hope that they take this into account when they consider the Triennial Review so we have a chance of earning it back.”
According to Global Betting and Gaming Consultants, they believe that the industry will “struggle to understand” how the duty rate of 20 per cent corresponds with the government’s earlier statements on the subject.
Entain has reported a third-quarter trading update pointing to continued underlying momentum across its business,…
IGT has announced that its Wheel of Fortune™ Slots and Tiger and Dragon™ Super Arrow…
Kalshi co-founder and CEO Tarek Mansour has warned that state-led regulation of prediction markets could…
Philippine digital gaming operator DigiPlus Interactive Corp. has withdrawn from the final rounds of New…
It is fascinating to watch how quietly but radically the iGaming landscape is shifting. Not…
Trust, Transparency and the Long Game I sat down with Simon Westbury, Strategic Advisor to…