Rank CEO Strikes Back Against Unfair Gaming Taxes in UK Guides

Rank CEO Strikes Back Against Unfair Gaming Taxes in UK

July 12, 2010  /  admin  /   Comments Off

The CEO of mega UK gaming company Rank has decided to seek an overhaul of the British taxation system as it regards the gaming industry and the fees levied against game operators. Having hosted such luminaries as Alistair Darling and David Cameron at his casino and bingo facilities in the past, CEO Ian Burke is believes that now is the time for change in the heavy handed taxing of Britain’s gaming operations, a key source of income for the nation at this time. Rising taxes, a ban on smoking in gaming environments and the banning of machine based gaming has struck hard at the income Rank depends on and the CEO has stated that his company has gone to great lengths to return to their former lucrative years in order to bring the same level of fun to their customers. The leisure industry as a whole has faced great challenges, he says, in the face of a global economic downturn that has rocked Britain’s economy to its very foundation.

While growth has been fragile at best, earnings have gone up 3.4% in the past year, but the £26 million paid in taxes has been tough to grow around. A tax hike of a full 7% has severely changed the way Rank and other similar companies do business and Burke believes this has to be dealt with in order for the industry to grow. While the situation now looks a bit gloomy, experts believe that once the economy is restored to better health, taxes will most likely be lowered to adjust and allow the gaming industry to expand more rapidly as Burke is advocating.