BGC: BET365 CUTS SHOW WHY THERE MUST BE NO FURTHER TAX RISES

“This is yet more evidence of the real-world consequences of the tax rises imposed on Britain’s betting and gaming industry.

“The sector repeatedly warned that higher taxes would lead to job losses, less investment and damage to successful British businesses, and sadly that is exactly what we are now seeing.

“Bet365 is one of Stoke-on-Trent’s biggest employers and a major British success story. The loss of hundreds of jobs will be deeply felt by workers, their families and the wider local economy.

“Britain’s regulated betting and gaming industry supports tens of thousands of jobs and contributes billions to the economy. The Government must now rule out any further tax rises on the sector. Ministers should instead pursue an evidence-led approach which protects jobs, investment and the regulated market, rather than handing an advantage to the unsafe, unregulated illegal gambling market.”