With a final decision seemingly imminent on FOBT stake levels this week, the bookmaking sector is bracing itself for what could well prove to be the most damaging change in legislation to hit the gaming sector in decades.
A Conservative Party revolt on gaming machine stakes and prizes could yet see a maximum £2 stake implemented on FOBTs in the UK.
The UK Gambling Commission (UKGC) has moved away from the notion that the maximum stakes on FOBT (B2) gaming machines need to be cut to £2.
When newly appointed Paddy Power Betfair CEO Peter Jackson accused the industry of “scare tactics” over the potential consequences of impending FOBT regulations, it marked the group’s continued resolute stance on the issue.
A group of independent bookmakers joined forces earlier this week to write to Prime Minister Theresa May, urging a rethink on proposals to lower the maximum stake on Fixed Odds Betting Terminals (FOBTs) to £2.
Ladbrokes Coral has denied that it will be reducing its sports sponsorship spend, instead saying that it "could not be ruled out" as a natural consequence of the severe cuts to maximum stakes on FOBTs...
UK amusement and gaming trade body bacta has met with former Conservative Party leader Iain Duncan Smith to present a new report that tackles the economic impact on bookmakers from a proposed reduction in FOBT maximum stake to £2.
GVC Holdings has reported a strong end of year trading, with the company expecting to publish full-year corporate results at the top end of its management expectations.
The British AWP (amusement with prize) industry, like the wider hospitality sector, faces an uncertain future in the face of increasing financial pressures, and there has been calls for the government to take action to ease the situation.
The backlash of this week’s long awaited triennial review of gaming machines stakes and prizes reverberated through Parliament on Tuesday, as the issue was debated prudently amongst MPs.