Gambling Companies Warn of Earnings Hit From U.K. Tax Increases

Gambling companies including Flutter Entertainment FLUT 2.04%increase; green up pointing triangle and Entain ENT -0.57%decrease; red down pointing triangle said their earnings will take a hit in the coming years from the U.K. government’s plans to hike taxes, and moved to put in place measures to soften the blow.

Britain’s gambling industry is counting the costs of the country’s budget, which included plans to increase levies for online gambling operators but provided some relief for betting shops as part of U.K. treasury chief Rachel Reeves’s sweeping tax rises to patch up public finances.