SkyBet warns the UK Chancellor against gambling tax rise

The Chief executive of Sky Betting & Gaming, Richard Flint, has urged the UK’s Chancellor of the Exchequer, Philip Hammond, not to raise the gambling-related taxes of companies active in the country, warning that it could harm the company’s investment plan for the UK.

As Mr Flint said, this year it was planned to create an other 200 high-tech at its Yorkshire site Headquarters in addition to 1,300 people who already work at the Yorkshire site of the brand.

“We are prepared to have the penalty [of higher taxes] versus being based offshore but it could become unsustainable if taxes are increased too much,” Mr Flint said.

He mentioned that SkyBet has paid £153 million in taxes for the year to June 2017 which represents 30% of SkyBet revenues. He added that while the company is based in the UK, it has to pay VAT on marketing expenditure, something not levied on those based offshore in places such as Gibraltar.