Wizard Of Oink

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A potential MGD rise was first reported in the The Financial Times, as Chancellor John Healey is allegedly looking to raise the tax, on the recommendation of the Social Market Foundation, which proposed the increase in a recent report.

Prime Minister Andy Burnham had already announced the government’s intention to scrap “aim to permit” for betting shops as well as insisting that AGCs will now need planning permission to function.

In her letter David warned another tax increase, on top of April’s RGD increase to 40% of GGR, could increase its operational expenses for retail by £100 million annually.

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“Such operations, albeit not purposeful, may impugn the company’s reputation and potentially subject Evolution to heightened regulatory scrutiny and the imposition of sanctions,” the report continues.

In the dossier, Spectrum unpacks Evolution’s review and vetting processes for potential clients. At the time of the report, Evolution required clients to provide certification of the beneficial ownership of 25% or more of the company. But Spectrum says it was not using “a viable process” as some documents provided by companies could be inaccurate.

“If red flags become known to Evolution during this onboarding process, Evolution should either determine not to do business with the company or undertake enhanced due diligence to resolve the red flags before engaging in business with the company,” Spectrum advises.

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Representatives from Corinthians, Palmeiras, São Paulo, Santos and Juventus met last week at the São Paulo Football Federation to discuss measures in response to the ban on betting advertisements in the city.

One of the proposals could be voted on next week by the city council and would directly affect the city’s clubs.

The meeting brought together 40 professionals from the clubs’ legal, communications and marketing departments, as well as executives from companies in the betting sector. Club officials are concerned about the financial impact of the measures, which could impact sponsorship contracts signed with betting companies.