(Reuters) -FanDuel-owner Flutter ​Entertainment said on ‌Wednesday the UK government'‌s plans to raise online gaming taxes will hit its adjusted ⁠EBITDA by ‌about $320 million in fiscal 2026 ‍and $540 million in 2027 before it can mitigate ​the impact.

British ‌finance minister Rachel Reeves earlier today said the tax rate on online gaming will rise ⁠to 40%​ from 21%​, while sports betting will increase ‍to ⁠25% from 15%.

(Reporting ⁠by Bipasha Dey in Bengaluru;‌ Editing by ‌Leroy Leo)