“The Bingo Association estimates that one in three bingo clubs will close.” The alarming statement was pronounced by Dan Waugh, director of investor relations for the UK’s Rank Group. Following the smoking ban, a lot of bingo halls have seen their revenues decrease.
The main problem is heavy taxation. “Bingo is the most heavily taxed form of gambling,” Waugh said. A spokesman from the Treasury argued the taxation rate faced by the bingo industry is the same one that applies to lottery, gaming and machines.
Also, bingo halls get about 30% of their revenue from slot machines. Clients used to play on this machines during bingo breaks, but now they don’t do that us much, since they much rather go outside and smoke. Taxes are also a problem when it comes to slots, with 17.5% VAT and 15% Gross Profits Tax (GPT).
Since the smoking ban came to force –on July 1st- some clubs decided to close their doors early and, according to Waugh, many more will.
“The Bingo Association estimates that one in three bingo clubs will close.” The alarming statement was pronounced by Dan Waugh, director of investor relations for the UK’s Rank Group. Following the smoking ban, a lot of bingo halls have seen their revenues decrease.