By SectorWire desk · · Updated
Betfred recorded annual turnover of £995.6m on 12 October. The results followed the operator's warning about retail betting's future.
Betfred’s £995.6m annual turnover gives investors financial context following its warning about retail betting’s future.
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The request concerns tax rates affecting betting shops and other businesses with category B machines.
Retail supplied £544m of Betfred’s £995.6m turnover despite a declining shop estate, highlighting its contribution for investors.
The 4% reduction in betting shops reduces Betfred's retail footprint as it incorporates UK tax increases into forecasts.
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The proposed 40% rate could expose betting shop operators to closures and job losses, according to the modelling cited by the BGC.