Retail

All the news form the retail betting sector

Ladbrokes urges UK Government to rethink FOBT’s tax

UK gambling operator Ladbrokes Plc urged the UK Government to rethink its plans to increase tax levied on profits generated from fixed odds betting terminals (FOBT’s). The operator claimed that unfair tax levying on the UK bookmakers could cost the industry around £75 million a year. The tax rate issued on FOBT’s is set to rise from 20% to 25% …

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Fred Done sponsors Bolton Hospice Midnight Memories Walk

Betfred owner Fred Done may just be the most generous man in gambling. This March Done, a lifelong Manchester United fan, ordered Betfred management to refund £200,000 to Manchester United fans who had high hopes on their football club retaining the Barclays Premier League title. This week Betfred announced that Fred Done would sponsor the Bolton Hospice’s eighth annual Midnight …

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David Lammy MP protests against Paddy Power shop in Tottenham

Tottenham Labour Party MP, David Lammy met residents and councillors outside the Sugar Cane pub, in Lordship Lane, Wood Green to protest against sports betting operator Paddy Power plans to open a third retail betting shop in the area. The bookmaker plans to turn the privately owned pub site, into an area Paddy Power bookmaker. Lammy and protestors are concerned …

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Canberra ACTTAB sale labelled a Sham Process

The sale of Australian government owned bookmaker ACTTAB, has been labelled a ‘sham process’ by corporate gambling operators who expressed interest in acquiring the retail bookmaker. ACTTAB’s sale has hit the headlines in Australia, as its appears that private bidders have been shut out of the sale to purchase the state owned operators assets. The government is looking to sell …

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Kambi enters Asian supply agreement with Nagaworld

Kambi Sports Solutions, the B2B division of Swedish stock listed igaming operator Unibet Plc, has announced a partnership with Cambodian leisure operator – Nagaworld Ltd. The agreed partnership to supply Nagaworld with a fully managed retail sports betting services, will be Kambi’s first partnership targeting the growing Asian betting market. Kambi will begin its sports betting services to Nagaworld from …

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Richard Glynn Earns 85% pay hike despite Ladbrokes downturn

Richard Glynn CEO of troubled gambling operator -Ladbrokes PLC,  has been awarded a  staggering 85% total remuneration rise as the firm’s operating profits plunged by a reported 33%.The news comes as a surprise to the gambling and sports betting industry, as Glynn’s position as the head of Ladbrokes operations, has come into question with many industry commentators forecasting the CEO’s …

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Tax increase hits bookmaker shares

Shares in Ladbrokes fell by almost 12 percent to 139.8p yesterday, while market leader William Hill was down 7 percent at 350.1p, as the market responded to Chancellor George Osborne’s latest tax raid on the betting industry. The Treasury increased the rate of Machine Games Duty (MGD) on games with a stake higher than £5 from 20% to 25%, with …

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Government ‘soaking’ of bookmakers will have consequences

The Association of British Bookmakers (ABB) claims that Chancellor George Osborne’s increase in tax on B2 Gaming Machines to 25% could see 30 per cent of the country’s betting shops in jeopardy. The organisation said in a statement: “The impact of the new Machine Games Duty (MGD) which came into effect last year and cost the industry an extra £50 …

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Budget bumps up machine tax for bookies

In an unexpected blow for the bookmaking sector, Chancellor George Osborne has announced that the Machine Games Duty tax rate for B2 gaming machines is to increase to 25% from 20%. In the budget statement, Osbourne said: “The Department of Culture, Media and Sport has a review underway to consider the regulation of Category B2 gaming machines (also known as …

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Bingo duty cut sees immediate market growth

The Rank Group has committed to a programme of investment and job creation in its bingo clubs as a consequence of today’s Budget announcement that bingo duty would be reduced from 20% to 10%. The duty reduction brings the taxation of bingo into line with most forms of gambling in Great Britain, including sports betting, football pools and online gambling …

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