Gambling duty paid by UK operators surpassed GB£ 3 billion in 2019, a new record amount for the sector. The enforced shutdown of retail gambling in 2020 because of the COVID-19 pandemic mean that it could mark a peak for the near future.
The UK’s bookmakers have been successful in their case against HMRC over the VAT treatment of FOBTs, as first reported by GBGC last month. Now HMRC has decided not to appeal, the listed firms are revealing their estimated winnings.
The Colorado Belle Casino and Resort, Nevada, is closing indefinitely, with the loss of 400 workers. The Colorado Belle has been closed since mid-March, in line with Nevada’s efforts to tackle COVID-19.
Casino operator Silver Heritage Group has entered voluntary administration, with the impact of the pandemic proving the final straw for the company.
Gambling and travel data from various Asian jurisdictions highlight the catastrophic impact of COVID-19 and the measures taken to tackle it.
An independent bookmaker told me last week that the UK government was paying his staff 80% of their salary and he had claimed a further £25,000 per closed shop. The business, prior to shutdown, had become so difficult to run: numerous regulatory issues, limits on stakes and prizes, and a rise in tax. With time to reflect during the lockdown, he has decided not to re-open. That is a sad state of affairs for the UK betting sector.