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Analysts back British gambling firm stocks despite tax rises for sector
Paddy Power owner Flutter and other betting and gaming firms say higher online gambling taxes will hit profits hardBusiness live – latest updatesFinancial analysts have advised buying shares in British gambling firms, despite the sector’s biggest players being hit with tax rises that forced them into issuing £1bn of profit downgrades.Duty rises announced in Rachel Reeves’s second budget as chancellor, targeted at online betting and gaming, are set to cost the industry an extra £8.3bn by 2030-31, according to the Office for Budget Responsibility (OBR). Continue reading…

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