The gaming company is facing several payments during the merger with Ladbrokes.
UK.- Weeks before the huge merger between British betting competitors, Gala Coral and Ladbrokes, the national government could reconsider tax demands on Gala Coral’s operations. The giant gaming company wants to reduce the tax payments after closing the quarter with a £25 million loss –US$32,846,081–.
According to Gala Coral chief executive officer, Carl Leaver, the company has perceived a decline due to increased taxes and one-off items during the last months. As Leaver explained, Gala Coral would have paid a total £45 million –US$59,116,009– from the POC tax when the fiscal year is closed.
Furthermore, the taxes paid would increase to £75 million during the current fiscal year, taking into account the Machine Games Duty, the £50 soft-cap on machine stakes and the tax “free bet” offers. The CEO expressed its concern and asked the British company to recognise the “pretty brutal” demands on the gaming industry.