Entain CEO Says UK Shops Could Close If Betting Taxes Are Raised

Entain Group CEO Stella David has confirmed the possibility of betting shop closures in the UK and that it would “consider its investment level” in the country if gambling taxes are raised in next month’s budget.

The government has proposed a remote betting and gaming duty (RBGD), which could be announced in the November budget, and would come into effect in October 2027 at the earliest.

What’s the issue?

The RBGD would replace the current system of three separate remote gambling taxes. These include remote gaming duty of 21% of gross profit on games of chance, pool betting duty of 15% of gross profit on bets not at fixed odds apart from those on horse and dog racing, and general betting duty at 15% of gross profit on sports bets.

Various estimations have been made from industry experts regarding what the single tax rate would be, and these have generally ranged from 21% to 25%. The British Horseracing Authority (BHA) has stated an RBGD of 21% would lead to a £66m loss of annual income. In September, the BHA postponed a series of race meetings in protest against the RBGD.

Expectations of an overall tax increase were fuelled further when Chancellor Rachel Reeves told reporters last week: “I do think there’s a case for gambling firms paying more. They make an important contribution to the economy, but they should pay their fair share of taxes and we’ll make sure that that happens.”

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David reveals possible contingency plans

Speaking to The Times, David said there is “no doubt” Entain would need to review “depending on the level of where the increases were, shop closures.” Entain’s Ladbrokes and Coral brands both operate betting shops in the country and the company has more than 2,400 shops across the UK and Ireland.

Betting shops have consistently been on the decline in Great Britain, in terms of their total number, across the last few decades. As of November 2024, there were 5,931 betting shops in Great Britain, down significantly even from 2016, when there were approximately 9,000 betting shops.

David said: “At the end of the day, we want to make a profitable global business. There are other markets we have to pivot to as being more worthy of investment. There will be consequences. Having a dislocating increase in tax will have a dislocating impact on the industry.

“Every point of [tax] increase would actually have an impact that certain shops would become unviable. There is no level that does not have some consequence, the scale depends on how far it goes.”

Responding to the Chancellor’s comments last week, David said: “Everyone should pay their fair share – and we already do.” David made the case that Entain is in the top 20 contributors of tax in the UK, with £513 million paid to the Treasury last year.

Looking across the pond

In May 2024, Flutter Entertainment, Entain’s biggest competitor in the UK, transferred its primary listing to the New York Stock Exchange. David hinted Entain could potentially make a similar move. “There are opportunities that exist in the US,” she said. “I’m not saying we are planning to do it right now, but of course we would consider it if the situation meant that it was in the best interest of the company.”