Lindar Media is anticipating continued UK growth as it drives to provide value-added products amidst a challenging economic climate.
Although the UK remains a challenging market for the iGaming operator, its board of directors is confident in the company’s future prospects.
These comments come as Mr Q‘s parent company reports a turnover of £96.9m over a 15-month period up to 31 December 2024, up from £69.3m declared over a 12-month period up to 30 September 2023.
After interest, operating profit over the same periods stood at £12.2m (2023: £8.8m) with a tax charge of £5.9m (2023: £381,429), resulting in a profit of £6.3m (2023: £8.4m).
“Growth is forecast for the forthcoming year and the directors are confident the next twelve months will reflect maintained profitability despite continued uncertainties posed by the pressures on disposable incomes in the UK,” commented Lindar Media.
“The continued demand for the products now offered by the company reflects the development and innovation already invested, with an organisation which recognises the needs and challenges of changes in the UK market.
“The market does remain challenging, but the directors’ continued drive to provide value-added products and services for the market with superior service levels and incentives for clients gives confidence for the future of the business.”
UK tax uncertainty
Beyond what was mentioned above by Lindar Media, further uncertainty in the UK market could come in the form of potential gambling tax increases.
When Chancellor Rachel Reeves announces November’s Budget next month, it is widely speculated that it will include a gambling tax increase. Former UK Prime Minister Gordon Brown and many others have called for the government to increase taxes on the industry to help fund efforts to alleviate child poverty.
The Institute for Public Policy Research’s proposals for a 50% tax on online and retail slots have been backed by Brown, rising from 21% and 20% respectively, as well as an increase in the general betting duty levied on bookmakers from 15% to 25%, except for horse racing.
Some of Lindar Media’s competitors in the UK, such as Entain and evoke, have already stated that they would reevaluate their investment strategy in the market if changes to the gambling tax were to occur.
Deposit limits
Lindar Media may also be impacted by the new definition of deposit limits, scheduled to be implemented by the UK Gambling Commission next year to provide customers with clarity and consistency.
It will be a requirement for online operators to offer customers an opportunity to set a deposit limit based solely on their deposit amount paid into their account over a set period of time.
To avoid any sort of misunderstanding, only this form of limit may be called a “deposit limit”, meaning the current gambling support tool of the same name will have to be redefined. However, different limits, such as loss limits or limits where withdrawals are accounted for, can still be offered by operators.
The changes will be integrated in stages and come into effect from 30 June 2026. They come in response to the 2023 Gambling White Paper and are a result of a consultation between March and April 2025, which examined the definition of deposit limits in the Remote Gambling and Software Technical Standards.
