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Shares in Ladbrokes and Coral owner Entain PLC (LSE:ENT) and Grosvenor casino owner Rank Group PLC (LSE:RNK) fell after a report that slot machine shops and casinos could face a £460 million tax rise under a future Labour government led by Andy Burnham. According to the Guardian, the Social Market Foundation has proposed doubling machine games duty from 20% to 40% on higher-stakes Category B machines, which allow £2…

Ladbrokes owner Entain PLC (LSE:ENT) has taken the first step towards exiting its Central European business, agreeing to offload a 20% stake for £366 million in a deal that analysts said highlights the discount at which the gambling group trades. The FTSE 100 group, which currently owns 62.5% of Entain CEE, is selling the stake to joint venture partner EMMA Capital, reducing its holding to 47.5%.

Ladbrokes owner Entain ​said on ‌Thursday it has agreed ​to ​the first step ⁠in a ​phased exit ​from its Central and Eastern ​Europe ​business, selling a 20% ‌stake ⁠to partner EMMA Capital for ​about €425 ​million ($481.82 ⁠million) to ​cut debt.

The FTSE 100 leisure sector is facing a quiet drain that rarely shows up in the headline numbers. London-listed giants such as Entain and Flutter Entertainment carry the full weight of UK compliance, yet a growing slice of British consumer spending is slipping toward operators that settle in Bitcoin and stablecoins and answer to no domestic regulator.

Ladbrokes-owner Entain has begun exploring options for its joint venture in Central and Eastern Europe, including a possible sale, three people familiar with the matter ​said.