BoyleSports warn staff of possible job losses following betting tax increase in Budget 2019
Dundalk headquartered bookmakers BoyleSports has warned its staff that their jobs could be at risk following the Government’s decision to double the nation’s betting revenue tax to 2%.
Last week Minister for Finance Paschal Donohoe delivered a damaging budget for industry stakeholders, implementing higher taxes on retail and digital betting verticals.
Boylesports, whose headquarters are based at the Finnabair Industrial Estate on the Inner Relief Road, is reported to be reviewing all retail options, with regards to countering the government’s tax increase.
They operate 250 betting shops across the country including several in Dundalk itself.
Boylesports released the following communication to staff in the wake of the Budget: “We are committed to making Government and all relevant agencies understand the impact this poorly-considered policy will have on the sector, our business, us and our families.
“We will take all steps available to safeguard our business, our industry and most importantly the employment of all our people.”
The warning come amid a new report today from the Irish Bookmakers’ Association which found that the decision to increase the betting tax in the Budget could lead to 239 job losses in the North East.
The report from the IBA found that up to 14 bookmakers shops in Louth could close permanently as a result of the decision, resulting in the loss of 84 jobs in the county.
Sharon Byrne, chairperson of the IBA, said: “There is no business in Ireland that could take a 100% increase in its tax. The only increase this will achieve will be in job losses and shop closures. Several hundred people across Ireland are now wondering if their shop will be closed for good on New Year’s Day.
“I’d love to be able to say they won’t be affected and offer them some comfort but I can’t. This is totally in the hands of the Government and its officials.”