Flutter Entertainment has warned that new UK gaming tax rises set out in the government’s Autumn Budget will dent its earnings significantly from 2026, even after mitigation. 

Under the plans set out by Chancellor Rachel Reeves, the iGaming duty rate will rise by 19 percentage points to 40% from April 2026, while online sports betting will increase by 10 points to 25% from April 2027.

The online gambling giant, which owns brands including Paddy Power and Sky Bet, is estimating a pre-mitigation adjusted EBITDA hit of about $320 million in fiscal 2026 and $540m in fiscal 2027.