Betfred founder warns proposed UK tax rise could close 495 shops
Betfred founder Fred Done said a proposed increase in UK Machine Gaming Duty from 20% to 40% could force the company to close 495 shops within a year. He said this could put 2,575 jobs at risk and cost the Exchequer about £67 million in tax revenue; the proposal was reportedly under consideration ahead of the Autumn Budget.
Operators and investors can assess the potential shop, employment and tax consequences of the proposed duty increase.