Betfred Owners Take £30 Million Dividend Amid Tax Warnings
The Done family took a £30 million dividend from Betfred while founder Fred Done warned proposed gambling tax hikes could cause thousands of job losses.
The owners of the Betfred gambling empire, the Done family, took a £30 million interim dividend following a pre-tax profit of £64 million for the year ending March 2026. The payout comes after the company recorded a £996 million win from British punters.
Fred Done, the founder of Betfred, has warned that proposed tax increases on high-street slot machines could devastate the gambling sector. He signed a letter to the Chancellor stating that doubling the machine games duty from 20% to 40% could trigger the closure of 1,470 betting shops and 34 casinos, resulting in 15,900 job losses.
Chancellor John Healey is currently considering the tax hike for the upcoming budget. The Social Market Foundation estimates the move could raise £460 million for the state. While the Done family contributed an estimated £400 million in taxes last year, Done argues the increase would render hundreds of bookmakers unprofitable. Some industry figures suggest adult gaming centres may be better equipped to survive the tax rise than traditional casinos and bookmakers.
