Share prices of listed UK gambling operators rebounded [Wednesday] after the industry escaped the rumored dramatic tax hike in the Autumn Budget 2024.
Entain, evoke plc, Rank Group and Flutter Entertainment all saw their share prices return to close to their pre-11 October levels.
Major UK gambling businesses saw over £2bn [$2.6bn] of value wiped away earlier in the month after The Guardian’s Rob Davies reported the UK Government was planning a multi-billion pound tax raid on the industry.
The change was rumored to involve taxes doubling on “higher harm” gaming products, including a Remote Gambling Duty (RGD) of 50%, which would be one of the highest rates in Europe.
