Ladbrokes owner Entain to cut 400 jobs as it warns over gambling tax
Entain, owner of Ladbrokes, is cutting 400 jobs while warning that proposed tax hikes on slot machines could force betting shop closures.Summary
Entain, the parent company of Ladbrokes and Coral, is consulting on cutting approximately 400 customer-service roles, primarily in the UK, following 500 earlier job cuts this year. The announcement coincides with government consideration of higher taxes on slot machines, which would impact betting shops. CEO Stella David warned in an open letter that such tax increases, potentially doubling machine games duty (MGD), could lead to widespread betting shop closures and significant job losses across the industry. She cited independent modeling suggesting a 40% MGD rate could result in up to 1,470 shop closures and 15,900 job losses. Industry leaders argue further taxes would drive gambling into unregulated markets. The cuts occur amid a broader employment slowdown, with the retail sector experiencing the largest job losses.
(Source：Business Matters)