Windfall for pools companies
12 April 2012
CHANCELLOR Gordon Brown left the country's two main pools firms, Zetters and Sportech, over the moon. He is scrapping the 17.5% levy on turnover generated by soccer pools and replacing it with a 15% tax on gross profits made by the promoters.
Sportech, the gaming group which owns the Littlewoods brand, gained 1 1/2p at 11 1/4p while Zetters, which is transforming itself into a financial spread betting business, rose 4p at 145 1/2p.
The Chancellor's decision was not unexpected. He has already shaken up the world of bookmaking by abolishing the tax paid by punters and replacing it with an across-the-board tax on profits. A Sportech spokesman said: 'The move is a positive one for the industry.'
