Done family took £30m dividend from Betfred before warning of job cuts

The billionaire Done family withdrew a £30m dividend from their Betfred gambling empire. This move comes before they warned the government about potential job cuts if the tax on high-street slot machines is increased. The family is concerned that doubling machine games duty, as proposed by the chancellor, could severely impact their business and lead to hundreds of bookies closing. This development is significant for markets as it highlights the potential economic impact of tax policies on specific industries.

Why it matters

The Done family withdrew a large dividend from Betfred before warning of job cuts. This could indicate financial difficulties for the company and the UK gambling industry as a whole.

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