LONDON (Reuters) – Britain’s finance ministry stated on Tuesday it absolutely supported a government proposal to toughen up playing guidelines, saying experiences that it was apprehensive about shedding tax revenues have been speculative.
Shares in bookmakers together with William Hill, GVC Holdings and Paddy Power Betfair, fell sharply on Tuesday after newspaper experiences stated the government would minimize the utmost stake on profitable fixed-odds betting terminals to 2 kilos, the steepest minimize into account.
But The Times newspaper stated Britain’s finance minister Philip Hammond was against the modifications as a result of he was apprehensive a couple of loss in tax income.
“We are fully supportive of DCMS’s (Department of Culture, Media and Sport) work to ensure the UK’s gambling regime continues to balance the needs of vulnerable people, consumers who gamble responsibly and those who work in this sector,” a Treasury spokeswoman stated.
“Any speculation on gambling taxes is just that.”