ITV Win to Shut Down After UK Tax Changes Bite

The ITV-backed online casino platform ITV Win only launched at the beginning of the year and is already closing its doors. It launched in the UK market this January but its operating partner, Richmond Atlantic, is now facing financial difficulties.

The UK’s new gambling tax regime saw Remote Gaming Duty on online slots increase from 21% to 40% in April 2026. This has impacted profit margins.

ITV Win to exit UK market

ITV Win launched through a partnership between broadcaster ITV and Richmond Atlantic, an operator based in Gibraltar. The platform offered online slots and bingo games. These were supplied by Gaming Innovation Group (GiG).

The site entered a highly competitive UK online gambling market at a time when operators were already warning about increasing regulatory and financial pressures. It was never going to be easy for a newcomer.

Richmond Atlantic has now confirmed it will wind down the ITV Win brand. The company has failed to secure further investment and hasn’t managed to complete a potential sale of the business.

An ITV spokesperson confirmed customers have been informed of the closure. They were advised to withdraw any remaining balances. Users who do not remove funds within the deadline will reportedly be contacted directly so balances can be returned.

Tax rise adds further pressure on operators

The closure adds to growing industry concern surrounding the UK’s revised gambling tax framework.

In April, the Remote Gaming Duty applied to online slots revenue increased sharply from 21% to 40%. This raised operating costs significantly for casino brands targeting UK players.

Larger operators may be better positioned to absorb the increase, of course. But smaller and newer businesses usually face greater pressure on margins, marketing spend and customer acquisition costs.

The numbers

The closure of ITV Win also reflects wider challenges facing newer entrants in the UK market. There are issues with compliance costs as well as an increase in competition from all angles.

Richmond Atlantic couldn’t secure funding

Richmond Atlantic reportedly explored several options to keep the business operational. They attempted to get outside investment, and there were discussions around a possible sale to another UK-facing operator.

However, no agreement could be reached.

A company spokesperson said the business had become unsustainable under the current tax structure. This means they’re forced to reduce operations and ultimately discontinue the ITV Win brand entirely.

The situation shows how ongoing regulatory and tax changes are changing the UK gambling industry. The problem is a particular one for smaller operators attempting to establish themselves.