Entain’s boss warns the same rise could push up to £1bn in stakes to the black market.
The hit
Consultancy Regulus Partners warns the UK government’s plan to double machine games duty to 40% could wipe out a third of horse racing’s annual betting-derived income & force up to 4,000 betting shops to close within three years if no mitigating measures are taken. The warning, reported by iGB, lands ahead of the Chancellor’s autumn budget this month.
Why it matters
Regulus says about 6% of shop revenue supports British horse racing through media rights & a statutory levy. The British Horseracing Authority says the sector’s 85,000 jobs need stable financing.
The record
| Horse racing income at risk | £92m a year, about a third of betting-derived revenue (Regulus Partners) |
|---|---|
| Shop closures forecast | up to 4,000 within 3 years if no mitigating measures are taken, leaving 1,500 shops (Regulus Partners) |
| Extra cost per shop | roughly £45,000 a year if MGD hits 40% (Regulus Partners) |
| MGD tax take forecast | down 32% to about £155m if closures happen (Regulus Partners) |
| Betfred’s planned closures | 495 shops & 2,575 jobs, per owner Fred Done |
| Stakes at risk of going black market | up to £1bn, says Entain chief executive Stella David |
What happens next
Watch the autumn budget for the final MGD decision, & whether the Treasury responds to Regulus & the BHA’s revenue warnings.
Sources: MGD hike puts £92 million of horseracing income at risk
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