International edition
September 20, 2020

It would have a significant impact in Paddy Power profitability

Irish government to raise tax on betting

(Ireland).- Ireland’;s government plans to double the country’;s tax on betting. The tax on betting will rise to 2 % from 1 %, Finance Minister Brian Cowen told legislators in Dublin.

A

n increase of that size would raise Irish bookmaker Paddy Power Plc’s betting duty bill to about 20 million euros, leading to a “significant” impact on profitability, analyst Gavin Kelleher at stockbroker Merrion in Dublin said in a note before the budget was published.

British bookmakers William Hill Plc and Ladbrokes Plc also have stores in Ireland.

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