Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Budget 2014: Ladbrokes see share price tumble on gambling tax rise

Budget 2014: Ladbrokes see share price tumble on gambling tax rise

Gambling firms are already feeling the effects of the announcement that the tax on betting terminals will be hiked to 25%.

Betting shop Ladbrokes suffered a share price drop of 12.6% to 139p, while William Hill's share price was down 6.2%, to 353.9p.

'Fixed odds betting terminals have proliferated since gambling laws were liberalised almost a decade ago.These machines are highly lucrative, and therefore it’s right we now raise the duty on them to 25%,' chancellor George Osborne said in his budget speech earlier this afternoon.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play Sarasin’s Boucher: why I like salmon with chocolate

Sarasin’s Boucher: why I like salmon with chocolate

Henry Boucher, manager of the £129 million Sarasin Food & Agriculture Opportunities fund, explains why he is gobbling up salmon and chocolate stocks.

Play Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Alibaba hype, the UK slowdown and opportunities in European sovereign bonds

Libby Ashby and leading wealth managers analyse what the Alibaba IPO hype means for Chinese equities, slowing growth of the UK economy and whether there’s anything left to play for in the European sovereign bond market.

Play Tesco, Japan and the rise of the central banker

Tesco, Japan and the rise of the central banker

 Libby Ashby and leading wealth managers scrutinise the food retail sector, Japan’s consumption tax hike and political risk in the markets.

Your Business: Cover Star Club

Veteran banker boosts Sanlam’s stockbroking team

Veteran banker boosts Sanlam’s stockbroking team

A veteran private banker has been recruited by Sanlam Private Investments to strengthen its advisory stockbroking team.

Wealth Manager on Twitter