Tag Archives: fobts

Rank to collect +£80m HMRC VAT settlement

Rank Group Plc has reached an agreement with HMRC in relation to its outstanding VAT refund claim on slot machine income.  Providing a market update, Rank disclosed that HMRC has agreed to issue a refund of £77.5 million paid machine duties paid from April 2006 to January 2013. In April 2020, an Upper Tribunal judgement voted in favour of Rank …

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John O’Reilly: Reflections on 2005 Gambling Act needed for best industry outcomes 

Rank Group Chief Executive John O’Reilly believes that a positive outcome to the government’s generational review of the 2005 Gambling Act should “rewrite the industry’s historical flaws”.  Delivering the keynote speech at the ‘Reputation Matters: UK Gambling’s Future at Stake’ conference, O’Reilly provided his leadership take on legislative developments amid concerns of how the UK gambling sector will be re-shaped …

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How have the top bookmakers handled the pandemic?

pandemic

There have been clear trends prevalent in the UK’s gambling industry over the course of the last few years, including the way in which online gambling continues to grow at the expense of offline betting and wagering, writes Mischa Port from Greypoint Gaming Group. In many ways, such trends were accelerated during the coronavirus pandemic through 2020, as global sporting …

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GVC submits claim for HMRC FOBTs rebate

GVC Holdings has become the latest gambling company to issue a claim to Her Majesty’s Revenue & Customs  (HMRC) regarding compensation owed from tax charges related to fixed-odds betting terminals (FOBTs). After William Hill followed the lead of Betfred and Rank Group earlier in the week, GVC has predicted that a successful claim ‘will result in a cash inflow to …

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William Hill pursues HMRC FOBTs rebate 

William Hill has followed counterparts Betfred and Rank Group Plc in issuing an HMRC claim on compensation owed from tax charges related to fixed-odds betting terminals (FOBTs).  The FTSE bookmaker could stand to secure a multi-million £ tax rebate on FOBT charges issued between 2005 and 2013. William Hill’s HMRC rebate stands from an April High Court ruling that favoured …

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GVC’s stand-out online division offsets inevitable UK retail decline

Citing market share gains across all operating territories, FTSE250-listed GVC Holdings has backed its underlying corporate strategy to navigate regulatory complexities both home and abroad.  Publishing its full-year 2019 results, GVC has recorded a pro-forma net revenue increase of 3% to £3.65bn (FY2018: £3.57bn) driven by the strong growth of its online division and European retail portfolio.  Despite competing against …

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Bengtsson accelerates international spread for William Hill

William Hill CEO Ulrik Bengtsson told investors to expect a “relentless focus on customer and product” from the bookmaker under his guidance, as he sets about accelerating the firm’s international diversification to counter regulatory pressure. William Hill’s adjusted operating profit fell 37% to £147m in 2019, ahead of the management guidance of £143m. However, the bookmaker still posted a statutory …

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Bengtsson posts solid start as William Hill’s new leader

The governance of FTSE bookmaker William Hill Plc has expressed confidence in the firm’s performance and future prospects, as group trading maintains full-year expectations. Publishing William Hill ‘unaudited’ results for the 17-week period up to 29 October 2019, it confirmed that group net revenues were 1% up on 2018 comparatives. Absorbing the assets of Mr Green, William Hill online net …

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The future for retail: Could ‘staff-less’ shops become a reality?

retail

It is widely accepted that we are entering a new era for retail betting, ushered in by the fast-tracked fixed odds betting terminal (FOBT) legislation and an increased expectation of technology amongst customers – for so many of whom digital is now king. Yet will this new era include the advent of ‘staff-less’ betting shops? Are bookmakers likely to respond …

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Double zero roulette delivers income gains for Chisholm

Chisholm

The introduction of double zero roulette has made a “small but definite improvement to gaming machine income” at Chisholm Bookmakers. Three weeks ago, the game was introduced on a trial basis by Howard Chisholm, the bookmaker’s managing director, to offset the huge loss of income as a result of the government reducing max stakes on fixed odds betting terminals (FOBTs) …

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