Tag Archives: fobts

Gambling Harm APPG: Industry leadership has no right to determine Review outcomes

MPs in the House of Commons held a two-hour debate yesterday, discussing a range of issues related to the future oversight of the UK gambling sector, with imminent reforms soon to be announced. The debate was led by long-term gambling-reformist Carolyn Harris, Labour MP for Swansea East. Proceedings were opened with Harris acknowledging the wide range of response, evidence and …

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Jack Ritchie inquiry to highlight UK Gambling’s system failures 

The Sheffield Coroner’s Court has begun its inquest into the death of Jack Ritchie (24), a ‘chronic gambling addict’ who in November 2017 took his own life.  The scheduled two-week hearing will examine the role of UK gambling in his death, with regards to industry regulation and the support structures available to those suffering from gambling addiction and mental health …

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Rank to collect +£80m HMRC VAT settlement

Rank Group Plc has reached an agreement with HMRC in relation to its outstanding VAT refund claim on slot machine income.  Providing a market update, Rank disclosed that HMRC has agreed to issue a refund of £77.5 million paid machine duties paid from April 2006 to January 2013. In April 2020, an Upper Tribunal judgement voted in favour of Rank …

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John O’Reilly: Reflections on 2005 Gambling Act needed for best industry outcomes 

Rank Group Chief Executive John O’Reilly believes that a positive outcome to the government’s generational review of the 2005 Gambling Act should “rewrite the industry’s historical flaws”.  Delivering the keynote speech at the ‘Reputation Matters: UK Gambling’s Future at Stake’ conference, O’Reilly provided his leadership take on legislative developments amid concerns of how the UK gambling sector will be re-shaped …

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How have the top bookmakers handled the pandemic?

pandemic

There have been clear trends prevalent in the UK’s gambling industry over the course of the last few years, including the way in which online gambling continues to grow at the expense of offline betting and wagering, writes Mischa Port from Greypoint Gaming Group. In many ways, such trends were accelerated during the coronavirus pandemic through 2020, as global sporting …

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GVC submits claim for HMRC FOBTs rebate

GVC Holdings has become the latest gambling company to issue a claim to Her Majesty’s Revenue & Customs  (HMRC) regarding compensation owed from tax charges related to fixed-odds betting terminals (FOBTs). After William Hill followed the lead of Betfred and Rank Group earlier in the week, GVC has predicted that a successful claim ‘will result in a cash inflow to …

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William Hill pursues HMRC FOBTs rebate 

William Hill has followed counterparts Betfred and Rank Group Plc in issuing an HMRC claim on compensation owed from tax charges related to fixed-odds betting terminals (FOBTs).  The FTSE bookmaker could stand to secure a multi-million £ tax rebate on FOBT charges issued between 2005 and 2013. William Hill’s HMRC rebate stands from an April High Court ruling that favoured …

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GVC’s stand-out online division offsets inevitable UK retail decline

Citing market share gains across all operating territories, FTSE250-listed GVC Holdings has backed its underlying corporate strategy to navigate regulatory complexities both home and abroad.  Publishing its full-year 2019 results, GVC has recorded a pro-forma net revenue increase of 3% to £3.65bn (FY2018: £3.57bn) driven by the strong growth of its online division and European retail portfolio.  Despite competing against …

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Bengtsson accelerates international spread for William Hill

William Hill CEO Ulrik Bengtsson told investors to expect a “relentless focus on customer and product” from the bookmaker under his guidance, as he sets about accelerating the firm’s international diversification to counter regulatory pressure. William Hill’s adjusted operating profit fell 37% to £147m in 2019, ahead of the management guidance of £143m. However, the bookmaker still posted a statutory …

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