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Entain warned that a sharp rise in MGD could prompt customers to migrate out of the regulated market, estimating that up to £1 billion in gambling stakes could shift to the black market.
The company cited analyses from the Office for Budget Responsibility which suggested previous gambling tax rises had reduced expected tax receipts, including a £500m reduction in forecast receipts for 2029-30. This revenue, writes David, would flow to the black market.
A new report commissioned by Euromat, and produced by Regulus Partners and Helios, has estimated that Europe’s black market has sustained a compound annual growth rate of 18% between 2019 and 2026, and will be worth up to €13 billion by the end of the year.
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Bally’s Corporation has announced Mira Mircheva is stepping down as the group’s executive vice president and CFO “for personal reasons”.
Mircheva’s resignation will be effective from Friday, although she will remain with the company until the end of September to “ensure a seamless leadership transition”, with the search for her replacement already under way.
George Papanier has taken on Mircheva’s role as CFO on an interim basis. Papanier will continue in his current roles as Bally’s president and a member of its board of directors.
What is Betmgm Diamond Stepper?
NSW government figures classify poker machines as the most harmful gambling format in the state, yet clubs continue to operate approximately 65,000 poker machines, benefiting substantially from tax rebates through the scheme.
Green MP Cate Faehrmann has criticised the arrangement, highlighting a conflict of interest where clubs reduce their tax liabilities while simultaneously cultivating community goodwill.
She called the proposed changes “tinkering around the edges”. She questioned whether ClubGRANTS genuinely supports community projects, or functions as an indirect subsidy that lessens scrutiny of gaming revenue.
