Genting UK Warns of 13 Casino Closures Over Proposed UK Machine Games Duty Hike

Genting UK plans to shutter 13 of its 32 casinos if the Chancellor doubles Machine Games Duty from 20% to 40% in the Oct. 28 Budget, CEO Paul Willcock said. The closures would put 900 jobs at risk. The tax increase would cost Genting approximately £16 million, exceeding its £13.5 million post-tax profit from last year. The company said affected venues would become "unprofitable or unsustainable." Genting is the second major UK casino operator to issue such a warning this week. Rank Group, owner of Grosvenor Casinos, said up to 16 of its 47 venues could close, threatening 1,800 jobs. Both operators said at-risk sites are concentrated in less affluent towns across northern England and the Midlands. The 29 venues in jeopardy represent nearly a third of the UK's 108 remaining casinos. Doubling the duty could raise Treasury revenue from £600 million to as much as £1 billion.