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Global operator Bet365 has confirmed plans to cut around 340 jobs in response to increased regulatory and tax-related costs.
The job cuts, which represent approximately 3% of Bet365’s workforce, will be made across the company’s offices in Stoke-on-Trent, Malta and Gibraltar.
Bet365 attributed the job cuts to a “highly competitive trading environment, plus increased regulatory and tax-related costs”.
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Andreas Braun, owner of four arcades in Wiesbaden, filed an objection and constitutional complaint against the tax rate in April last year according to local reporting. He argued that the tax rise had provided a ‘strangling’ effect to business and that it consumed operator profits.
According to a high court ruling from over a decade ago, the tax rise cannot be allowed to rise to the point of ‘consuming livelihoods’.
“If the tax burden alone makes it impossible to establish the occupation of slot machine operators as the economic basis of one’s livelihood within the municipality,” the ruling said.
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Sun International attributed the land-based growth to investments in product and marketing, with land-based casino GGR growing 4.4%. The company launched 876 new slot machines and stadium games during the period.
Bengtsson said the land-based growth reflected Sun International’s “strong execution and sound investment decisions”.
Despite the revenue growth, land-based gross profit dipped 0.7% to R2 billion, largely due to the heightened investment in marketing.
