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How to play Mega Fishing
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About Mega Fishing
Entain has issued a stark warning in a letter addressed to Prime Minister Andy Burnham about the potential impact of a proposed increase to the Machine Games Duty (MGD).
Ahead of the government’s Autumn Budget in October, Entain CEO Stella David cautioned that doubling the current MGD rate to 40% could result in widespread closures of betting shops and significant job losses, while potentially reducing tax revenues for the government.
A potential MGD rise was first reported in the The Financial Times, as Chancellor John Healey is allegedly looking to raise the tax, on the recommendation of the Social Market Foundation, which proposed the increase in a recent report.
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If it strikes a more reasonable balance that encourages economic development, “you will see the world’s best casino operators submit proposals”, he says. The government, he adds, must show it is prepared to give developers enough room to manage the risks of committing billions of dollars in capital.
Klebanow remains cautious about the commercial prospects of Japan’s emerging IR market, particularly given the tight limits on gaming capacity. With only five casinos ultimately envisaged, he argues that the number of gaming machines and tables will be modest relative to Japan’s population, making it “very safe to assume” that gambling will be socially and physically contained.
The bigger question, therefore, is whether such constraints will leave operators enough capacity to generate the returns needed to justify their investment.
