Tag Archives: fobts

Paul Fox – LeTou: Changing Times require Changing Perceptions…

In order to continue its UK growth, the betting sector must adjust to growing regulatory demands and social pressures. Looking forward, Paul Fox Chief Executive of LeTou details why stakeholders have to broaden their values and agendas for 2019 and beyond. .. _____________________ The gambling industry consistently generates headlines in this country. Whether it is television advertisements, sports sponsorships, fixed-odds …

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William Hill notes ‘solid progress’ despite booking + £900 million FOBTs adjustment

FTSE bookmaker William Hill will settle exceptional charges and adjustments of £916 million, including a ‘£882 million non-cash impairment’ for its Retail division, as governance adjusts to the UK government’s Triennial Judgement reducing wagers on FOBTs machines to £2. Publishing its half-year 2018 results (26 weeks ending 27 June), William Hill governance has pre-booked corporate losses of £916 million, which …

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UK government to implement online tax rise before FOBT stake cuts

The Times has this morning reported, that the UK government will delay its implementation of an industry-wide £2 FOBT machine stake reduction until April 2020, citing that the UK Treasury has struck a ‘backroom deal’ with betting leadership. Last May, UK Culture Secretary Matt Hancock confirmed the government’s decision to reduce FOBTs wagering levels to £2 limit, stating that the …

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OPTIMA joins call for FOBTs transition period

OPTIMA

OPTIMA CEO Jacob Lopez has echoed a call from GVC for the government to afford UK bookmakers a reasonable transition period to adapt their retail business models. Lopez was consulted by SBC on yesterday’s announcement, which saw the government reject advice from the Gambling Commission by cutting stakes on B2 Gaming Machines (FOBTs) from £100 to £2. To cover the …

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William Hill predicts ‘unprecedented’ change will see 38% of shop estate unprofitable

William Hill has updated the market on the back of the Department for Digital, Culture, Media and Sport (DCMS) decision to reduce the maximum stake on B2 games from £100 to £2. Given the Government has specified its intended outcome, William Hill said it is providing preliminary guidance on the potential impact in order to help investors and analysts with their …

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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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Scott Longley: The £2 reckoning – betting & racing face their nightmare

Following the conclusion of this week’s local elections, the Conservative government will likely move to implement a £2 FOBTs wagering limit, impacting all UK betting stakeholders. SBC contributor Scott Longley assess whether the government understands the consequences of its drastic cut, or if it can justify its FOBTs policy logic… _________________ Politics has trumped economics in the final stages of …

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