The French gambling regulator, La Française des Jeux (FDJ), has addressed speculation regarding a potential tax hike on gambling in the country.
Rumors have been swirling in recent weeks that the French government is considering increasing taxes on the gambling industry in order to generate more revenue for public services. The speculation has caused concern among industry stakeholders, who fear that higher taxes could have a negative impact on the market.
In response to the rumors, FDJ released a statement reassuring stakeholders that there is currently no official proposal to increase taxes on gambling. The regulator emphasized that any decision to raise taxes would need to be carefully considered to ensure that it does not harm the viability of the industry.
FDJ also pointed out that the gambling sector is already heavily regulated in France, with strict rules in place to protect consumers and prevent problem gambling. The company highlighted its commitment to responsible gaming and pledged to work closely with the government to ensure that any changes to gambling laws are implemented in a way that benefits both players and operators.
Despite FDJ’s reassurances, industry experts remain wary of the possibility of a tax hike. France already has some of the highest gambling taxes in Europe, and an increase could put additional strain on both land-based and online operators.
The uncertainty surrounding the potential tax hike comes at a challenging time for the gambling industry, which has been hit hard by the COVID-19 pandemic. With many casinos and betting shops forced to close their doors during lockdowns, operators are keen to avoid any further financial burdens that could impact their ability to recover.
As the French government continues to consider its options for boosting revenue, FDJ and other stakeholders will be closely monitoring developments in order to ensure that any changes to gambling laws are fair and equitable for all parties involved. In the meantime, the industry remains on high alert for any signs of a tax hike that could impact its future prospects.