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Fred Done, the 83-year-old founder of Betfred and Britain’s highest-paying taxpayer this year, has issued a stark warning about the impact of further tax increases on the gambling industry.
In an interview with the Financial Times over the weekend, Done cautioned that additional tax hikes could result in widespread betting shop closures, harm related sectors such as horse racing and accelerate the decline of the high street.
Betfred currently operates approximately 1,094 retail shops across the UK. Done highlighted the concrete risks of Machine Gaming Duty – taxes on gambling machines – doubling from 20% to 40%, a move reportedly under consideration by Chancellor John Healey ahead of the Autumn Budget.
How to play Susu Koko
“Ultimately, our focus is not only on representation, but on fostering an environment where everyone has the opportunity to contribute, develop and succeed,” Yaxley says.
A key question around DEI has long been how the gambling sector can attract diverse talent. Increasingly, however, attention has shifted to whether it can retain the people it attracts.
“One misconception is that DEI is solely about recruitment targets,” Skinner says. “Recruitment is important, but bringing diverse people into an organisation without creating an inclusive culture simply results in higher turnover.”
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Stakeholders have yet to determine their response to the bills, with educational campaigns and collective actions on the agenda. Coordination with political leaders in the city of São Paulo is also under way.
Reinaldo Carneiro Bastos, president of the São Paulo Football Federation, expressed concern about the bill, saying: “If the city’s clubs lose this revenue, it will create a disparity that extends to the pitch.”
According to him, advertising from betting companies is a primary revenue source for the clubs. Opponents from other states would be able to retain such advertising, creating a competitive disadvantage, particularly for Corinthians, Palmeiras and São Paulo.
