Tag Archives: triennial review

FTSE gambling group GVC Holdings has this morning issued a market filing, confirming that it has gained access to a €200 million ‘class b’ first-lien term loan. The € debt transaction has been processed through GVC’s operational subsidiary – ‘GVC Holdings Gibraltar Limited’. In its market filing, GVC governance details that the loan has been structured under ‘net leverage neutral …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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 …