Tag Archives: machine gaming duty

HMRC reveals gambling receipts did not meet expectations for 2020/2021

HM Revenue and Customs (HMRC) has announced that gambling revenue for the 2020/2021 financial year fell below expectations, largely due to the economic impact of national lockdowns. Total tax receipts registered from April 2020 to March 2021 totalled £2.83 billion – a drop of £182 million or 6% when compared to 2019/2020 fiscal duties – attributed to COVID-19 lockdowns enforcing …

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Paddy Power revenues hit €1bn before Betfair merger

Both Paddy Power and Betfair were achieving double digit growth ahead of their merger last month – Paddy Power had grown its revenues by 24% to €1.1bn in 2015, while Betfair’s final quarter as an independent company saw revenues increase by 21%. However both firms also had their figures blunted by taxation. Over 2015 Paddy Power’s operating profit increased 10% …

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William Hill cites tax increases for £21m drop in profits

William Hill CEO James Henderson has described the past six months as a period of ‘significant regulatory and taxation change for the industry’ as the bookmaker reported a 30% drop in profits after tax to £69.5m. Despite group net revenue marginally growing, even against 2014 World Cup comparatives, operating profit dropped 12% to £155.7m for the first half. Group net …

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