Tag Archives: fobt

GVC Holdings and Ladbrokes Coral – The story so far

After securing a near majority approval of its shareholders to proceed with the proposed acquisition of Ladbrokes Coral Plc, GVC Holdings has further receivgo-aheado ahead of its investor counterparts at the FTSE100 betting  group. The transaction is now set to be forwarded on to the United Kingdom’s High Court for final judgement (target date 23 March) It has, however, been …

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Independent bookies appeal to Theresa May over FOBTs

Independent bookmakers in the United Kingdom have made a written appeal to Prime Minister Theresa May, imploring the disregarding of a proposed £2 Fixed Odds Betting Terminal (FOBT) maximum stake. Ahead of government judgement on proposed wagering reduction, various representatives issued a reminder and agreement with May when she stated “From dynamic start-ups to established family firms, our small and …

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ABB dismisses latest FOBT report as being “flawed”

The Association of British Bookmakers (ABB) has expressed its belief that a report which estimates the potential economic cost of cutting fixed odds betting terminal (FOBT) stakes to £2 was “flawed.” The report, which was conducted by the Centre for Economics and Business Research (CEBR) for the British Amusement Catering Trade Association (BACTA), came to the conclusion that if the …

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MPs emphasise the importance of the DCMS review on the horse racing industry

This week’s long awaited triennial review of gaming machines stakes and prizes not only led to a 12 week consultation period, but also incited an incredibly heated debate in Parliament on Tuesday. As part of the debate, the case was made for how future regulations on terminals could have implications on the horse racing industry, both co-chairs of the all-party …

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Long awaited gambling triennial review met with mixed reaction

The UK Department for Digital, Culture, Media and Sport (DCMS) finally released its triennial review of gaming machines stakes and prizes this morning, ushering a 12 week period of proposals and consultation on industry changes. As part of the review, the Gambling minister Tracey Crouch underlined the importance of ‘striking the right balance between socially responsible growth and protecting the …

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Breon Corcoran comes out in support of slashing FOBT stakes

The Financial Times has revealed that Paddy Power Betfair chief executive Breon Corcoran has issued his support for significantly cutting the stakes of  fixed-odds betting terminals (FOBTs). In a letter to the minister at the Department for Culture, Media and Sport (DCMS), Tracey Crouch, Corcoran stated that due to the ‘toxic’ nature of the debate that now surrounds the terminals only significant action would …

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Responsible gambling is at the ‘heart’ of betting shops Peter Craske – ABB

Ahead of next month’s triennial stakes and prizes review by the DCMS, the Association of British Bookmakers (ABB) has reiterated that betting shops continue to offer ‘the safest place to gamble on the high street’. The government is facing mounting pressure from lobbying groups to slash the maximum stakes of FOBTs to just £2, however, the gambling industry has warned …

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Gaming machine stakes reduction blocked by Treasury – reports

British bookmakers received good news this weekend when a source close to Whitehall told the Daily Mail that the Chancellor of the Exchequer, Philip Hammond, would halt the ongoing review into B2 Gaming Machines, more commonly known as fixed odds betting terminals (FOBTs). Having previously been delayed because of the snap election, the long awaited review of gaming machine stakes …

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William Hill hails revenue growth amid 11% drop in profits

William Hill has claimed wagering growth across all four of its divisions in the first half of 2017, although profit before interest and tax was 11% lower than the corresponding period in 2016. However, given that there was some revenue growth (3% to £837.0m) against last year’s figures which had been boosted from the Euro 2016 tournament, and adjusted operating …

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FOBT research suggests simple stakes drop not effective in problem gambling battle

The responsible gambling charity GambleAware (formerly the Responsible Gambling Trust) has produced research which suggests that the so-called £50 journey actually saw players increase stakes around the new limit of £50 rather than meet the restrictions imposed for those wanting to bet at the higher £100 stakes limit. The £50 journey was introduced by the government and the UK Gambling Commission …

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