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Bingo world welcomes tax cut

For the last few years it’s all been about online bingo, but more recently we’ve been hearing a lot from the land bingo industry as the campaign by Boost Bingo to reduce the duty on bingo has gained momentum. Now all that campaigning has paid off as Chancellor George Osborne has announced a tax cut to 10% for land based bingo halls!\r\n\r\nWe’ve been hearing a lot from the land based bingo industry and as they say, there’s no such thing as bad advertising, so hopefully it’s going to mean a bit of a revival. With the tax cuts announced, halls are already talking of regeneration and investment, and hopefully this will mean more treats for the loyal players who signed the petition to get the duty cut!\r\n\r\nImmediately after the announcement was made the Rank Group announced that three new bingo halls will be opened soon, which we have to say makes a great change from the news of them closing all the time. Shares in the company took an instant climb too yesterday with a 7% increase at close of business yesterday. \r\n\r\nIt’s the first of two big changes to bingo taxation that will come about this year, and while this one was good news, the next one won’t be. In December the new Point of Consumption Tax comes in for online clubs, and this will be an increase that will be hated as much as yesterday’s reduction was loved. Both taxes are likely to shake up the entire industry this year in equal measure and what the Chancellor gives land based bingo halls with one hand, he’ll be taking back online with the other.\r\n

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