Moody’s research specifically points out the possibility of smaller operators falling foul of the new tax rate. Their results were based upon an analysis for the Rank Group, who are among the leading gaming operators of Europe. They are based in the UK, and their primary business activities is bingo halls and casinos. The Rank Group are the parent company of Mecca Bingo. To date, their online gaming and bookmaking concerns were considered complementary; although not secondary. It will be interesting to see if this report sways that balance.
The Moody report concluded that the 7% rise would render the land based bingo industry “volatile”. Just look around at the latest bingo news, and you can see just how unstable things have become. Even the bingo halls who have, so far, managed to keep their heads above water, understand this may be a short lived respite. A mere calm before the storm. Moody also point out: While the recent victory, by Rank, over the UK Vat man, may install a certain amount of breathing space for the company, the victory was not yet conclusive. HMRC have lodged an appeal, and even if it is rebuked, it will still be a long while before Rank see the refund. Either way, it doesn’t look like the smaller bingo halls have little to look forward to.
This was an article by lisa for bingo faces on UK Bingo Halls
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