Today's financial news was dominated by the UK gambling sector, where Entain, Evoke, and Rank Group all warned of significant additional costs and operational impacts from new government tax increases on remote gaming and online sports betting. Elsewhere, corporate activity included ACG Metals confirming a possible offer for Anglo Asian Mining and Smiths Group commencing a substantial £1 billion share buyback program. Meanwhile, Gunsynd PLC reported improved financial results, Sutton Harbour Group provided an update on debt reduction, and Digital 9 Infrastructure saw a minority stake sale offer a valuation benchmark for its Arqiva asset.
Investment company Gunsynd GUN announced its final results for the year ended 31 July 2025, showing a reduced loss of £391,000 after taxation, down from £845,000 in 2024. The improvement was largely attributed to lower unrealised losses on the value of its investments. Net assets increased to £2.141 million from £1.557 million, with cash balances significantly improving to £439,000 compared to £148,000 in the prior year. The company is focusing on privately owned exploration assets as part of its strategic evolution.
The Chairman of Sutton Harbour Group SUH issued an AGM statement, focusing on the company's efforts in debt reduction and refinancing. The group has deferred a £6.5 million bank loan repayment to 31 March 2026 and is working with advisors to secure new financing as its current facility expires in December 2026. Asset disposals have resulted in a material decline in rental revenue, which has been largely offset by savings in interest payments. The company aims to complete further asset sales to meet its financial obligations.
Digital 9 Infrastructure DGI9 announced a portfolio update, confirming a pre-emption notice concerning the sale of a 26.5% minority interest in Arqiva Group by Macquarie-managed vehicles for £16.5 million. The transaction provides a current valuation for Arqiva, a key asset where Digital 9 Infrastructure holds a 51.8% interest. Arqiva is the sole provider of national terrestrial TV and radio broadcasting infrastructure in the UK and a leading participant in smart utility infrastructure development. This update provides significant insight into the valuation of its core holdings.
Global sports betting and gaming group Entain ENT reacted to the UK Government's Budget statement, expressing disappointment over substantial increases to UK gambling taxes. The company estimates these changes, affecting Remote Gaming Duty and General Betting Duty, will result in an annualised additional cost of approximately £200 million for its UK&I Online business. Entain expects to mitigate only around 25% of this impact through measures like reducing marketing and promotions, warning of detrimental effects on the regulated sector and a potential boost for the black market.
Evoke EVOK, a prominent betting and gaming company, issued a strong response to the UK Budget, condemning the announced increases in Remote Gaming Duty to 40% and a new 25% online sports betting duty. The company believes these changes, effective from April 2026 and 2027, will cause thousands of industry-wide job losses and drive customers towards the unregulated black market. Evoke, which paid £329 million in UK taxes and duties in 2024, assesses that these significant duty increases will ultimately reduce overall tax generated by the UK gambling industry.
Rank Group RNK announced the estimated impact of the UK Autumn Budget, stating that the increase in Remote Gaming Duty (RGD) to 40% and the abolition of Bingo Duty will reduce its annualised operating profit by approximately £40 million. The UK Digital business faces an additional duty cost of around £46 million due to the RGD hike, which is somewhat mitigated by a £6 million benefit from the removal of bingo duty. Rank is now reviewing various mitigating actions for its UK Digital business in response to these significant tax changes.
ACG Metals ACG confirmed it is in the early stages of considering a possible offer for the entire issued and to be issued ordinary share capital of Anglo Asian Mining. This announcement, made under Rule 2.4 of the City Code on Takeovers and Mergers, clarifies that there is no firm intention to make an offer at this stage. Investors will be monitoring developments closely as there is no certainty that any transaction will ultimately proceed or on what terms.
Industrial technology company Smiths Group SMIN announced the launch of the first tranche of its £1 billion share buyback programme. The company plans to repurchase up to £600 million worth of ordinary shares, with completion expected by 31 July 2026. These shares will subsequently be cancelled, aiming to reduce the company's share capital. This substantial programme underscores a commitment to enhancing shareholder value and reflects confidence in the company's financial position.
Mining services company Capital CAPD Limited received a TR-1 notification indicating that Aegis Financial Corporation has significantly increased its major holding. Aegis Financial Corporation now holds 10.31% of the voting rights in Capital Limited, a substantial rise from its previously notified position of 5.17%. This material increase in an institutional holding suggests growing confidence from a major investor in the company's long-term outlook and strategic direction.