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Independent Operators Association of UK 2010 Budget Statement
In response to last week's UK emergency budget, Ken Mullarkey, National Sales Executive for the Independent Operators Association (IOA) Group outlines the cost to the industry of the VAT change that will come into effect from 4th January 2011:
''Whilst we all accept that the massive public debt has to be tackled, the gaming industry is asked to take yet another hit. Whilst other industries and retailers are able to pass on this increase to the end-user we are not. Price of play is fixed and so our customers will be asked to dip into their pockets yet again. Managed customers will see a reduction of on average £5 per machine/week in their profits, nearly 3 per cent. This comes on top of the 3.6 per cent hit on Amusement Machine Licence Duty announced in the last budget, which will impact from September in most cases. Tenanted groups will typically see £3 per machine/week wiped off their share of income.
The IOA ~ the National UK Group pf local amusement machine operators ~ is concerned that this erosion of income is creating an environment in which rentals are coming under pressure, at the very time when operators' costs are rising steeply, particularly fuel prices. With the introduction of new technologies and pressure to introduce new income enhancing solutions such as note recyclers to our machines, recovering the cost of these will become that bit more difficult.''
~ Please send all Breaking News, Press Releases, and Product Announcements & Promotions to: news@highwaygames.com
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