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Rank ‘Dismayed’ By Budget

Leading British land and online casino and gaming operator is not happy with announced rises in bingo duty and poker tax.

Thursday 30th April 2009

Leading British land and online casino and gaming operator Rank Group has released a statement in response to last week’s Budget, which was announced by the Chancellor Of The Exchequer, Alistair Darling. Rank is the firm behind online bookmaker and virtual casino and revealed that it is ‘dismayed’ by the increases to bingo duty and poker taxation. “This change has been imposed without prior indication or consultation,” read the statement. “In Rank's recent meetings with Her Majesty’s Treasury, there had been no discussion of increases to taxation for bingo or poker. “Rank anticipates that the changes to taxation announced will result in approximately six million pounds of unbudgeted costs during the financial year to December 31, 2009, or approximately nine million pounds on an annualised basis. After accounting for these additional costs, Rank anticipates that it will continue to operate within its banking covenants.”

Source: OnlineCasinoNews

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