Overview

• Co‑founder Fred Done said tax rates of about 35% to 40% would leave no profit, putting 1,287 shops and roughly 7,500 jobs at risk.
• Chief executive Joanne Whittaker has told ministers the changes would cut tax receipts and push bettors toward unregulated offshore sites.
• Rivals have flagged similar pressures, with Evoke (William Hill) preparing for up to 200 closures and Flutter shutting 57 Paddy Power shops, while Entain has warned of reviews of its estate.
• Betfred reported nearly £1 billion in revenue but only about £500,000 in operating profit, says 300 shops already lose money, and projects that a 5‑point duty increase would raise that to 430, with higher wage and NIC costs adding £20 million.
• Reeves has said there is a case for gambling firms to pay more, IPPR estimates hikes could raise about £3.2 billion, and HM Treasury says it will not comment on prospective tax changes.