entertainment

United Kingdom, tax revenue from gaming is increasing

According to HMRC statistics, game tax revenue in Britain rose to £373m for the 2021-2022 financial year, £92m and 32.7% more than in the same period in the year.

Revenue from bingo fees shows that bingo’s return to normal in the main stage has been even more dramatic, doubling from £8m to £16m in the same time frame. Taken together, the stats represent a strong rebound in the retail gaming sector that was devastated by Covid restrictions in both 2020 and 2021, even during the first two months of the last fiscal year. April, May and June 2021 revenue combined contributed less than £15 million to MGD and less than £1 million to bingo tax, but in July alone, MGD revenue increased tenfold to £58 million and bingo tax revenue came to almost £1.5 million. However, the real breakout began a month ago, with acquisitions entering HMRC a month after the funds were released by traders. Interpreting the statistics in this way, June 2021 marked the beginning of a recovery that lasted until the last number recorded in February 2022.

Returns over the next six months will reveal how complete the recovery in this sector is, as the long-term effects of the pandemic on retail become apparent. Meanwhile, the sports betting and igaming sectors have both paid a higher amount of taxes for the third consecutive year in the latest HMRC stats, representing a steady increase in revenue despite the pandemic.

Maggie Benson

"Bacon trailblazer. Certified coffee maven. Zombie lover. Tv specialist. Freelance communicator."

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