Irish government to raise tax on betting
16 Oct 2008
DUBLIN, Ireland -- As reported by Bloomberg: "Ireland's government plans to double the country's tax on betting
"...The tax on betting will rise to 2 percent from 1 percent, Finance Minister Brian Cowen told legislators in Dublin today.
"An increase of that size would raise Irish bookmaker Paddy Power Plc's betting duty bill to about 20 million euros ($27 million), leading to a 'significant' impact on profitability, analyst Gavin Kelleher at stockbroker Merrion in Dublin said in a note before the budget was published.
"...U.K. bookmakers William Hill Plc and Ladbrokes Plc also have stores in Ireland..."