British Horseracing Authority chief executive Brant Dunshea has warned the five per cent rise in machine gaming duty for betting shops announced in the Budget will have a “devastating impact” on the future of the sport.
British Horseracing Authority chief executive Brant Dunshea has warned that a five percent increase in Machine Games Duty on betting shops will cause severe damage to the sport's finances. The tax rate rise to 25 percent was announced in the government's latest Budget, prompting fears of betting shop closures and revenue losses.
Dunshea stated that independent modeling estimates horse racing could lose £57m annually from its £350m income. He warned the tax increase poses a threat to prize money, racecourse viability, thousands of industry jobs, horse welfare projects, and fan engagement.
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