Flutter says UK gambling duties to hit EBITDA by $320 million in 2026

(Reuters) -FanDuel-owner Flutter Entertainment said on Wednesday the UK government’s plans to raise online gaming taxes will hit its adjusted EBITDA by about $320 million in fiscal 2026 and $540 million in 2027 before it can mitigate the impact.

British finance minister Rachel Reeves earlier today said the tax rate on online gaming will rise to 40% from 21%, while sports betting will increase to 25% from 15%.

(Reporting by Bipasha Dey in Bengaluru; Editing by Leroy Leo)