Doubts over £458m gambling tax plan emerge days before Budget Betting A week before the Budget, questions have emerged about the evidence behind a proposed £458m gambling tax rise, after internal comments revealed doubts among the campaigners that were pushing for the increase. The Betting and Gaming Council (BGC) told City AM that the comments, which appeared in a draft report by the Social Market Foundation [...]
Paddy Power owner to axe 1,400 jobs after Labour gambling tax raid Business Paddy Power owner Flutter has announced it will cut as many as 1,400 jobs, blaming Labour’s tax raid on the gambling sector last year. The New-York listed firm will restructure its UK and Ireland division, slashing around 15 per cent of its workforce. Redundancies will affect roles in Leeds and Dublin, as well as Portugal [...]
Paddy Power owner Flutter quits London Stock Exchange in blow to City Markets The owner of Paddy Power has said it will ditch its listing on the London Stock Exchange, in another major blow to the UK market. Flutter, which owns gambling brands including Paddy Power and Betfair, shifted its primary listing to New York in 2024 and on Friday announced plans to ditch its secondary listing in [...]
Paddy Power owner’s London exit fears mount as shares slide May 8, 2026 Flutter Entertainment is facing fresh scrutiny after analysts warned the gambling giant’s battered share price is effectively “pricing in zero US growth”, as fears mount over a potential full London Stock Exchange exit. The Paddy Power and FanDuel owner has come under renewed pressure after cutting guidance despite posting stronger quarterly revenues, with investors increasingly [...]
FTSE 100 Live: Stocks down on election day; oil back below $100 as Iran deal hangs in balance May 7, 2026 Good morning and welcome back to the City AM liveblog. It’s local election day in the UK and Keir Starmer’s premiership is hanging in the balance as his Labour Party prepares to take a drubbing in council boroughs across the country. Gilt yields rose at their fastest rate earlier this week as the market prepares [...]
FTSE 100 Live: Stocks jump; oil dips below $100 as Trump says Iran deal close May 6, 2026 Good morning and welcome back to the City AM liveblog. Brent crude dipped below $100 at Wednesday lunchtime after Donald Trump has hailed “great progress” towards a “final agreement” with Iran, prompting a rally in the FTSE, Asian markets and Wall Street. In a sudden reversal late last night, President Trump said he will pause [...]
Entain losses deepen as Budget gambling tax bites March 5, 2026 Britain’s new gambling tax regime has delivered an early sting for Entain, pushing the Ladbrokes owner to a wider annual loss even as its core betting business continued to grow. The FTSE-listed bookmaker said it swung to a loss of £681m for 2025, compared with £461m a year earlier, after booking a £488m impairment linked to [...]
Flutter shares tumble as Paddy Power owner misses forecasts February 27, 2026 Shares in Flutter Entertainment fell sharply after the Paddy Power parent missed expectations across key measures and issued softer-than-expected guidance, adding to concerns about the outlook for the US sports betting market. The New York-listed group saw its stock drop almost seven per cent in extended trading after reporting fourth-quarter revenue of $4.74bn (£3.52bn), below [...]
William Hill-owner Evoke mulls sale after Budget raid December 10, 2025 William Hill-owner Evoke is considering whether to sell itself or break up parts of its business in response to the government’s multibillion pound raid on gambling firms at last month’s Budget. The betting giant, which also owns the 888 brands and Mr Green online casino, told investors that it had kicked off a strategic review [...]
FTSE 100 Live: Taylor Wimpey and Fuller’s Budget warning; Starmer under fire November 12, 2025 Good morning from the City AM live blog team. The FTSE 100 is springing back to life this week, managing to seal its second consecutive record close at 9,899.60p after a 1.15 per cent gain and bringing the index a whisker away from the 10,000 mark. The blue-chip index has rallied after the US government [...]