2009 Budget brings bad news for bingo industry

Alistair Darling unveiled the 2009 Budget yesterday and initially their were cheers from the UK Gaming Industry as campaigners for the abolishment of the ‘unfair’ VAT bingo were rewarded when the news that the participation fees for bingo would no longer be subject to VAT. However as the Government gave with one hand it quickly took with the other and then some by announcing that bingo gaming duties would rise from 15% to 22%.

As well as the rise in gaming taxes, the UK government also increased amusement machine licence duty to all categories of gaming machines which will be introduced in the Finance Bill 2009. These increases will bring in an estimated £55 million to the government off setting the £50 million it was going to lose by scrapping bingo VAT.

A spokesman for Rank, one of the largest Bingo companies said “This change has been imposed without prior indication or consultation. In Rank’s recent meetings with HM Treasury there had been no discussion of increases to taxation for bingo or poker,”

VC Bet reverts back to Victor Chandler

VC Bet the Gibraltar based sports betting and Casino Company is today reverting its commercial branded name to Victor Chandler.   The company has gone under the name VC Bet for the last four years but now the chairman; Victor Chandler has felt now it is time to return the brand name to “Victor Chandler” he said “The reasons for the change to VC Bet were all valid, and the brand has proved very successful in its own right. With so many new competitors in the gaming market I thought it was important we highlighted the company history, and the key brand values of trust, honour and integrity.  The Victor Chandler name has been synonymous with these values for over 60 years.”

The change will see a new company logo which will feature the chairman Victor Chandler in it, the company’s poker and games brands will be brought into the Victor Chandler name. Mr Chandler went on to comment “I want to communicate to customers that they are betting with a real person when they place a bet with Victor Chandler, rather than a faceless organisation”.