Done family took £30m dividend from Betfred before warning of job cuts
Money was withdrawn from gambling firm before founder warned chancellor against doubling machine games duty The billionaire Done family took a £30m dividend…
The Guardian reports: Money was withdrawn from gambling firm before founder warned chancellor against doubling machine games duty The billionaire Done family took a £30m dividend from their Betfred gambling empire, before warning that they would close hundreds of bookies and cut jobs if the government increases tax on high-street slot machines.
This business story centres on the United Kingdom. Names and organisations mentioned in the coverage include Betfred, Done and John Healey.
Why it matters
Moves like this are watched by investors, employers and consumers because of their potential effect on markets and the wider economy.
Key details
- Location
- United Kingdom · Europe
- Reported by
- The Guardian
- First reported
- Key names
- Betfred, Done, John Healey, Social Market Foundation
- Section
- Business
- Figure cited
- The chancellor, John Healey, is understood to be considering proposals to double machine games duty in the upcoming budget, a move that the Social Market Foundation thinktank has said could boost state coffers by up to £460m. (The Guardian)
Sources
This is an independent summary. Read the full, original reporting from the publisher:
Read the full story at The GuardianSpotted an error? Request a correction · How this summary was produced
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