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.
Your Business: Cover Star Club

Profile: The Brewin & Barclays alum bringing the City to Brighton

Profile: The Brewin & Barclays alum bringing the City to Brighton

Stepping away from the corporate world was a big step for David Pegler and Tim O’Connor when they founded Brighton Capital Management

Wealth Manager on Twitter