Super Group (SGHC) Limited (NYSE:SGHC) is among the worst-performing stocks, dropping 6.74% to $10.93 per share on Wednesday due to the UK’s decision to increase taxes on gambling activities effective April 2026.

The new rules will raise taxes on remote gaming to 40% from 21% and on online sports betting to 25% from 15%, resulting in a 6% negative impact on Super Group’s 2026 adjusted EBITDA.

CEO Neal Menashe expressed support for the tax increase, emphasizing the importance of strict enforcement against non-paying offshore operators to protect investments in jobs, technology, and responsible gaming in the UK.

Chief Finance Officer Alinda van Wyk stated that the company has mitigation measures in place to offset the tax impact without altering their long-term growth strategy or capital return priorities.

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Read more at Yahoo Finance: Super Group (SGHC) Falls Hard as UK Govt Slaps Higher Gambling Duties