News emanating from two of the UK’s largest casino operators has revealed their growing dissatisfaction with the UK’s approach to casino regulation and taxation.
In its results, announced last week, Malaysian casino giant Genting said that it had lost nearly £130m as a result of the UK's smoking ban and a rise in gaming duty.
The Malaysian-based company reported the impairment loss against the value of its Stanley Casinos division, which it bought just over a year ago for around £700m, including debt.
The company expressed its disappointment that the increase in gaming duty had 'taken the industry by surprise', and had been implemented without any prior consultation.
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