SBC News Voice of the Sports Betting Industry
UK hedge funds – Odey Asset Management, Bluecrest and Marshall Wace are reported to have taken substantial short positions against the future performance of UK licensed bookmakers. The hedge funds have taken the short positions as the UK government plans further regulation and legislation on betting operators online and offline operations. Short selling is a trading technique used by hedge …
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Kentucky Derby on Racing UK
Racing UK will televise America’s most prestigious race, the 2014 Kentucky Derby, in an exclusive programme aired on Saturday night. The Churchill Downs meeting will feature bookies’ favourite, California Chrome, and is due off at approximately 11.24pm. The specialist UK and Irish horseracing channel will incorporate the award-winning NBC coverage from the course, with Angus McNae and James Willoughby on-hand …
Read More »Codere secures extension to restructure debt holdings.
Embattled Spanish listed gambling operator Codere SA, has been granted an extension to negotiate its €1.1 billion debt (£935 million). Codere pleaded to Spanish government courts that the operator needed more time in order to restructure its debt bonds in order to avoid creditor insolvency. Codere SA have been granted a ten day extension to prove its debt strategy by …
Read More »Paddy Power’s Andy McCue hits out at planning restrictions
UK bookmakers have reacted to yesterday’s government announcement which let local authorities limit the number of betting shops on Britain’s high streets. Betting shops will now be treated differently to other UK retailers, as betting shop planning applications will be subject to far more scrutiny by local authorities. Industry reaction to the announcement has garnered a mixed response by UK …
Read More »ABB: Gambling law should be ‘based on facts, not scaremongering’
The Association of British Bookmakers (ABB) has warned that any changes to betting shop regulations to tackle problem gambling should be ‘based on facts, not scaremongering’. In response to the government’s new plans to impose greater restrictions on gaming machines, gambling advertising and LBO planning laws, the ABB has accused the government of failing to listen to the one million …
Read More »Shake up in planning laws for betting shops
Gambling firms who want to open up new betting shops on the high street may find they are stopped from doing so under new plans to give local authorities more control over the make-up of their high streets. Bookies who want to open new shops will have to submit a planning application and local councils will be able to refuse …
Read More »Ministerial statement: Betting shops and gambling
Minister for gambling Helen Grant MP has made this statement to Parliament: “The 2005 Gambling Act was introduced by the then Government with the aim of liberalising the gambling market in Great Britain. Nearly seven years on from the Act’s implementation, the gambling industry has developed in innovative ways, with new products now marketed and made available on a greater …
Read More »Government to announce new betting restrictions
The UK government is expected to introduce new mandatory measures for bookmakers today as it looks to stave off pressure from Labour on the gambling industry. Among the changes will be a tightening up on advertising, a shift in the planning laws to put betting shops in their own category and the enshrinement of the recent ABB machine code into …
Read More »Union warns against knee-jerk LBO closures
Trade union Community is concerned ahead of an expected announcement by the government that will provide new powers to local councils to curb the opening of high street betting shops and that the stakes on Fixed Odds Betting Terminals might be changed. The news follows Friday’s announcement of 420 potential job cuts at high street bookmaker William Hill. Responding to …
Read More »Two new racecourse applications approved
The British Horseracing Authority (BHA) has announced that two applications for new or converted racetracks to enter the 2015 fixture allocation process have been approved by its Board. The two applications are: From Great Leighs Estates Limited (GLEL) for a new racecourse on the site of the former racecourse Great Leighs, now to be known as Chelmsford City racecourse. From …
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