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More Threats for Bingo

The longevity of the land bingo industry in the United Kingdom is looking bleaker and bleaker as the government continues to place undue taxes on land bingo that limit the company’s viability to compete with the growing online casino gambling industry. For the past year and a half and longer the land bingo parlors have been closing their doors because of the government’s double taxation legislation. Now, it seems as though the government has begun to listen to the complaints – at least to some extent. The land bingo industry is no longer subject to the Value Added Tax (VAT) and instead must now pay a tax that is levied specifically on the land and online casino gambling industry – and it’s even higher than the VAT!

This news has really lowered the hopes of the land bingo industry that they would be able to compete fairly with the online casinos and internet bingo sites. For years now the bingo industry has patiently waited for the new legislation that would abolish the regulations that force land bingo companies to pay VAT. Now that it has happened, the alternative is a lot less rosy. The VAT meant that land bingo sites were paying 15 percent in taxes; now though the new tax on Bingo and Casinos means that these companies will pay a whopping 22 percent in taxes to the UK government.

Surely, for some land bingo operators this is altogether the breaking point – the online casinos and internet gambling sites have far less overhead to cover than the land gambling venues in terms of operation expenses and the land bingo halls and land gambling venues were hoping that the UK government would recognize this fact and adjust the regulations accordingly.