Tag Archives: fobts

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, …

Read More »

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 …

Read More »

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 …

Read More »

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 …

Read More »

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 …

Read More »

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 …

Read More »

William Hill predicts ‘unprecedented’ change will see 38% of shop estate unprofitable

William Hill has updated the market on the back of the Department for Digital, Culture, Media and Sport (DCMS) decision to reduce the maximum stake on B2 games from £100 to £2. Given the Government has specified its intended outcome, William Hill said it is providing preliminary guidance on the potential impact in order to help investors and analysts with their …

Read More »

Online taxes to rise as FOBT stakes slashed to £2 despite evidence

The government has rejected advice from the Gambling Commission and the Responsible Gambling Strategy Board (RGSB) and cut stakes on B2 Gaming Machines – FOBTs – down from £100 to £2. The announcement was made this morning by DCMS minister Tracey Crouch and could have wide repercussions for the retail betting industry, horseracing and online gaming operations. Both William Hill CEO Philip …

Read More »

Scott Longley: The £2 reckoning – betting & racing face their nightmare

Following the conclusion of this week’s local elections, the Conservative government will likely move to implement a £2 FOBTs wagering limit, impacting all UK betting stakeholders. SBC contributor Scott Longley assess whether the government understands the consequences of its drastic cut, or if it can justify its FOBTs policy logic… _________________ Politics has trumped economics in the final stages of …

Read More »

Winning Post – Tories toughen stance on FOBTs

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. Global: Tennis integrity – changing the game? The tennis integrity Independent Review Panel has published its long-awaited interim report, which includes a raft of recommendations aimed at improving the sport’s efforts to …

Read More »