Entain Expects £25 Million Cost Hit From UK Tax Hike
Entain said the UK government’s latest gambling tax increase is expected to add £25 million ($33.21 million) in costs to its UK and Ireland retail business. The company’s shares rose 5%.
Ladbrokes owner Entain LSE:ENT said on Wednesday it expected an additional £25 million ($33.21 million) cost impact to its UK and Ireland retail business after the UK government raised taxes on the gambling industry for the second consecutive year.Shares of the betting company rose 5%, however, as…