Betfred’s Fred Done Warns on UK Slot Tax Hike as Group Pays GBP 30 Million Dividend

Betfred boss Fred Done is lobbying against a proposed rise in machine games duty (MGD) from 20% to 40%, warning that hundreds of betting shops and dozens of casinos could close if the UK government goes ahead. At the same time, Betfred Group Holdings Limited paid an interim dividend of GBP 30 million, so the tax debate is landing in the usual place: on operators’ margins, shop counts, and shareholder payouts.

1. Chancellor of the Exchequer John Healey is considering proposals in the upcoming budget to double machine games duty on gaming machines from 20% to 40%. The Social Market Foundation think tank says that change could bring in GBP 460 million in tax revenue for the government.
2. On Wednesday, Done joined other industry figures in signing a last-ditch letter to Healey warning that the policy could lead to the closure of up to 1,470 betting shops and 34 casinos, with 15,900 jobs at risk. Betfred had already closed 132 shops earlier this summer, saying the upcoming tax increases were the main reason.
3. Done has been making the same point for years. Since 2019, Betfred has threatened to shut nearly 1,000 betting shops in response to tax increases and tighter regulation. Over that period, its betting shop estate fell from around 1,620 outlets to 1,293, a reduction of just over 20%.
4. The other side of the ledger is less dramatic. The Done family, with an estimated combined wealth of GBP 3 billion, remains the UK’s biggest taxpayer group according to the Sunday Times Tax List. Of the estimated GBP 400 million they contributed in tax last year, GBP 54 million was attributable to machine games duty, according to the accounts of Betfred Group Holdings Limited.
5. Betfred generated a record GBP 996 million in revenue from British punters in the financial year ended March 2026, with pre-tax profit of GBP 64 million. That performance supported the GBP 30 million interim dividend, paid to shareholders that are primarily a series of trusts benefiting the Done family. Total shareholder payouts since 2022 now stand at mor

For high-risk operators, the point is straightforward: a higher machine tax would hit retail betting economics directly, and Betfred’s numbers show the tension between public warnings about shop closures and the cash flow needed to keep paying owners.