Entain faces UK tax hit as shares rise
Entain expects a £25 million cost impact on its retail business after the UK government raised gambling taxes for the second consecutive year. Despite the disappointing decision, company shares rose as the tax increases were lower than expected.
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Entain PLC expects an additional £25 million ($33.21 million) cost impact on its retail operations in the United Kingdom and Ireland after consecutive tax hikes. Shares rose 5% on Wednesday afternoon as the increases came in lower than anticipated. The adjustments follow last year's fiscal changes, placing further pressure on operators across the region.
