The billionaire Done family took a £30m [$40m] dividend from their Betfred gambling empire, before warning that they would close hundreds of bookies and cut jobs if the government increases tax on high-street slot machines.
The chancellor, John Healey, is understood to be considering proposals to double machine games duty in the upcoming budget, a move that the Social Market Foundation thinktank has said could boost state coffers by up to £460m [$609m].
Industry figures, led by the Betfred boss, Fred Done, argue that such a move would result in the closure of vast swathes of the bookmaking and casino sector.
On Wednesday, Done was among industry signatories who signed a last-ditch letter to Healey, warning that the policy could trigger up to 1,470 betting shop closures, 34 casino closures and 15,900 job losses.
