Tag Archives: fobts

Winning Post: Crouch bows out with “alternative facts”

Crouch

Regulus Partners, the strategic consultancy focused on international gambling and related industries, takes a look at some key developments for the gambling industry in its ‘Winning Post’ column. UK: Politics – Crouch bows out with “alternative facts” Last week’s resignation of Tracey Crouch as UK minister for sport (and gambling) marked a new low in the recent history of Britain’s …

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UK Treasury mulls delaying FOBTs cut to October 2019

The Guardian newspaper has this morning reported that the UK government is set to delay implementing its mandatory £2 cut on FOBTs stakes until October 2019. Since the Department for Digital, Media, Culture & Sport (DCMS) confirmation that FOBTs machine wagering would be drastically reduced from £100 to £2, the UK government has faced mounting criticism for delaying its directive. Cross-party consensus …

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“Everybody suffers” – BOS panel delivers FOBT fallout update

FOBT

David Webb, UK Product and Compliance Manager for BetConstruct, said that removing the need to prove there was a demand for a betting shop when applying for a local authority premises licence has contributed to today’s perception that there is a “proliferation of betting shops” – something the government wants to stamp out. Webb was moderating a Betting on Sports …

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Paul Fox – LeTou: Changing Times require Changing Perceptions…

In order to continue its UK growth, the betting sector must adjust to growing regulatory demands and social pressures. Looking forward, Paul Fox Chief Executive of LeTou details why stakeholders have to broaden their values and agendas for 2019 and beyond. .. _____________________ The gambling industry consistently generates headlines in this country. Whether it is television advertisements, sports sponsorships, fixed-odds …

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FSB’s Richard Thorp: Retail Betting – The Past and Future

Retail Betting

Last I checked, signs of impending apocalypse have yet to include high street bookmakers’ signs flapping in the wind. However, if you were to listen to many on the retail high street, the four horsemen are bearing down on retail operators – and at least one of them is riding a FOBT, writes Richard Thorp, Business Development Director for FSB. First, …

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William Hill notes ‘solid progress’ despite booking + £900 million FOBTs adjustment

FTSE bookmaker William Hill will settle exceptional charges and adjustments of £916 million, including a ‘£882 million non-cash impairment’ for its Retail division, as governance adjusts to the UK government’s Triennial Judgement reducing wagers on FOBTs machines to £2. Publishing its half-year 2018 results (26 weeks ending 27 June), William Hill governance has pre-booked corporate losses of £916 million, which …

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Bacta members to voice B2 outrage in Treasury meeting

iakov / 123RF Stock Photo

Bacta has detailed that its members are to convey industry outrage over a proposed delay in implementing the £2 stake on FOBTs (fixed odds betting terminals), at a Treasury meeting next week. The meeting, which is set to be held at The Treasury on Wednesday 25 July, will see a senior delegation of figures from the UK trade association, including …

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UK government to implement online tax rise before FOBT stake cuts

The Times has this morning reported, that the UK government will delay its implementation of an industry-wide £2 FOBT machine stake reduction until April 2020, citing that the UK Treasury has struck a ‘backroom deal’ with betting leadership. Last May, UK Culture Secretary Matt Hancock confirmed the government’s decision to reduce FOBTs wagering levels to £2 limit, stating that the …

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DAREBS: The solution to recovering FOBT losses?

DAREBS

The onus has been put on betting shop operators to replace the inevitable dip in revenues caused by the slashing of maximum stakes to £2 on fixed odds betting terminals and the now, effectively defunct, B2 profile. Pavel Korolev, Business Development Director at InBet Games, believes his firm has a product that could help stem the flow. “Fifteen years of …

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OPTIMA joins call for FOBTs transition period

OPTIMA

OPTIMA CEO Jacob Lopez has echoed a call from GVC for the government to afford UK bookmakers a reasonable transition period to adapt their retail business models. Lopez was consulted by SBC on yesterday’s announcement, which saw the government reject advice from the Gambling Commission by cutting stakes on B2 Gaming Machines (FOBTs) from £100 to £2. To cover the …

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