Tag Archives: triennial review

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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GVC Holdings rules out judicial review of FOBT decision despite £160m hit

GVC Plc, the owner of Ladbrokes Coral, has appealed for time to implement the new £2 stake for B2 Gaming Machines, given that it will cost the company £160m as soon as the cut is implemented, and said that it does not intend to seek a judicial review of the DCMS‘ decision. In an update to the stock market, the …

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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 …

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Gambling Commission recommends £30/£2 FOBT stake limits to Government

The Gambling Commission is recommending that the stake levels on FOBT (B2) gaming machines be cut to £2 for slots-based games and £30 for non-slots games such as roulette. The recommendation would be a fillip for bookmakers who are fearing that the staking levels on the machines would be cut to £2 across both types of game, a move which would …

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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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Gambling Commission reviewing point of consumption licensing

The point of consumption licensing introduced in 2014 is being reviewed by the Gambling Commission to check its effectiveness. Speaking to the All-Party Parliamentary Group on Betting and Gaming at Westminster on Wednesday, the regulator’s CEO Sarah Harrison revealed that the Commission is looking again at the general framework to see how it is functioning and whether any improvements can …

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Ladbrokes Coral CEO Jim Mullen: ‘take a serious look at the facts’ on FOBTs

Ladbrokes Coral CEO Jim Mullen has appealed to politicians to ‘step back from the fray’ and take a serious look at the facts in highly fractious debate around FOBTs. Writing a piece in the Daily Telegraph, replicated below, Mullen argues that the only impact that cutting stakes to £2 from £100 will have is the loss of thousands of jobs and …

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Retail bookmaking could see profits slashed suggest analysts

The report from the gaming analysts at UBS which pulled the rug from under the share price of William Hill this week doesn’t pull its punches when it comes to the near-term future for the high-street bookmakers. The team at UBS suggest that retail operating profits could decrease by an average of 40 percent depending on what the upcoming Triennial …

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Parliamentary Betting & Gaming Group to look at Future of Gaming Machines

The Parliamentary All Party Betting & Gaming Group is to focus on gaming machines in the next installment of its ‘Future of Gambling Seminar Series’. Held on Monday 7 th June 2016, Future of Gaming Machines features speakers including BACTA CEO John White, IGT Senior Director for Europe Simon Dorsen, and John Appleton, Director of Electronic Leisure at Mitchells & Butler. Steve Donoughue, gambling consultant and Secretariat …

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