UK's Reeves to increase taxes on gambling companies, according to OBR
26/11/2025 12:27
LONDON, Nov 26 (Reuters) - Britain's Office for Budget Responsibility said finance minister Rachel Reeves is set to increase duties on gambling in the country in a move which will raise an estimated 1.1 billion pounds ($1.45 billion) for the government by 2029-30. The OBR unexpectedly published its outlook on its website ahead of finance minister Rachel Reeves delivering her budget to parliament. The new taxes will impact companies like Ladbrokes owner Entain ENT.L, William Hill UK and 888-owner Evoke EVOK.L and Flutter FLUT.N FLTRF.L. "From April 2026 there will be an increase in remote gaming duty from 21 to 40 per cent and abolition of bingo duty from its current 10 per cent rate," the OBR said. "From April 2027, a new rate of general betting duty for remote betting will be introduced at 25 per cent, excluding self-service betting terminals, spread betting, pool bets, and horseracing." ($1 = 0.7601 pounds) (Reporting by Andy Bruce, writing by Sarah Young; editing by William James) ((sarah.young@thomsonreuters.com; +44 20 7542 1109; Reuters Messaging: sarah.young.thomsonreuters@reuters.net))