Gambling giant set to axe 400 jobs as it blames UK tax hikes and warns of further losses

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Ladbrokes owner Entain has announced plans to cut around 400 global jobs, blaming rising tax burdens and warning of further losses amid speculation over plans to double machine games duty in the Budget.

The firm, which owns Coral and Sportingbet, has launched a consultation affecting up to a fifth of its 2,000 customer care roles across 11 countries, including the UK, to mitigate UK tax increases.

The precise number of UK job losses has not been specified, with the consultation ending by November.

The gambling giant’s chief executive Stella David wrote to Prime Minister Andy Burnham, warning of broader sector job losses if machine games duty is doubled.

She said: “The proposed changes are being made to ensure our business remains competitive, financially resilient and well positioned for the future as our sector faces an increasingly challenging operating environment.

“This decision has not been made lightly, and our immediate priority is to support those of our colleagues who may be impacted through this transition.”

This follows news two months ago confirming 500 global cuts in product technology and corporate roles.

Entain previously cautioned that new UK gambling taxes will have a “massive impact” worth around £250 million.

Remote gaming duty rose from 21% to 40% in April, with new general betting duty due next year, as speculation grows Chancellor John Healey will raise machine games duty next month.

The Prime Minister also revealed plans last month giving councils greater powers to block new betting shops.

In her letter to Mr Burnham, Ms David said: “Doubling the standard rate of machine games duty to 40% would add around £100 million to the annual cost of running our UK retail business.”

She highlighted an independent study for the Betting and Gaming Council suggesting the increase could cause 1,470 shop closures and 15,900 lost jobs.

Ms David said: “These are not theoretical efficiencies in a financial model.

“They are people losing their jobs and communities losing long-established high-street businesses.”

Ladbrokes’ plan to cut jobs comes after Betfred announced back in late July that it was set to cut 600 jobs, while Bet365 confirmed last week it is also preparing to reduce its workforce.