Ladbrokes said it really is unhappy aided by the "completely unexpected" hike in machine games duty to 25percent prepared for 2015Reuters
Ladbrokes sales had been hit by "heavy losses" on unfavourable baseball and horse race results through the very first one-fourth.
The betting company reported a 2.3percent fall in revenue on the same period a year before. Revenue before income tax fell 51% on the year to £18.4m.
Additionally bemoaned the "completely unanticipated" hike in machine games duty to 25percent in 2015, a move unveiled by Chancellor George Osborne in his budget.
This might be a quote to deal with just what happens to be dubbed the "break cocaine" of betting – fixed chances wagering terminals (FOBTs).
These touchscreen machines function games such Roulette and Ebony Jack. They've been assaulted by campaigners to be addicting and geared towards deprived areas rife with issue betting.
"The unforeseen present taxation increases and ongoing anxiety surrounding regulation are unwanted, " said Richard Glynn, leader of Ladbrokes.