“There are always risks for betting and gaming stocks ahead of the budget,” argued analysts at Oriel, but they considered the risks to be “greater this year”. Previous 1 of 2 Companies Next FTSE 100 One of the issues concerning Oriel was the possibility of higher taxes on online companies operating offshore. Many gaming companies operate from offshore tax havens such as Gibraltar, rather than the UK, where the tax rate is 15pc. But last year, the Government said it would look at changing the way it taxes companies that offer online gambling to British consumers from abroad, raising the prospect of higher tax bills for online operators. Oriel analysts thought the issue could be revisited at the Budget and a consultation launched, which “could result in gross profits tax introduced for offshore operators in late 2013 or 2014”
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