Tag Archives: FOBT
UK – Gambling Commission’s FOBT recommendations go further than £2 stake cut
As well as limiting FOBTs to a stake of £2 the UK Gambling Commission has said it wants to see a raft of changes introduced to help identify problem gambling and to stop it migrating onto other types of gambling machines. It does not consider that a stake cut alone on B2s (irrespective of the…
UK – White and Miller progress Bacta case in Whitehall
British amusement trade association Bacta has followed up its meeting with former Conservative party leader, Iain Duncan Smith, with another appointment at Whitehall, this time with Tracey Crouch MP, Parliamentary Under Secretary of State for Sport and Civil Society. The member for Chatham and Aylesford and the politician with responsibility for the gambling industry in…
UK – Rumour of £2 stake for FOBTs sends shares plummeting
Shares in British bookmakers have slumped following media reports speculating that the Secretary of State favours a maximum FOBT stake of £2 as the outcome of the triennial review consultation. William Hill fell 11.6 per cent whilst Ladbrokes Coral dropped by 7.9 per cent on sheer mention of the rumour, which Patrick Coffey, an analyst…
UK – BACTA claims cost of FOBT legislation won’t be as high as feared
BACTA, the trade association representing the UK amusements sector, has suggested that the cost of a clampdown on fixed-odds betting terminals (FOBTs) is being exaggerated. Analysis from the Centre for Economics and Business Research (Cebr), commissioned by BACTA shows that the economic impact on bookmakers of lower FOBT stakes could be significantly less than existing…
UK – UK Finance Minister says FOBT limits would be ‘financially crippling’
Changes to the UK’s FOBT limits have the potential to be ‘financially crippling’ according to UK Finance Minister Philip Hammond. He suggested that the government can’t afford to lose revenues should legislation limit the maximum bets allowed as proposed. The review had been instigated by the Department for Culture, Media and Sport (DCMS) back in…
UK – Political pressure increases to cut FOBT stake
The Fixed Odds Betting Terminals (FOBT) All Party Parliamentary Group (APPG), has staged a photo opportunity at Portcullis House with MPs drawn from across the political spectrum invited to show their support for the ‘Cut the stake. Reduce FOBT Harm’ campaign. MPs were invited to have their photographs taken alongside posters which have been designed…
UK – Ladbrokes warns of closures on suggested FOBT limits
The British bookmaking sector is bracing itself for sweeping changes on FOBT play that could according to one leading industry executive, close more than half the bookmaking shops in London. Jim Mullen, Chief Executive of Ladbrokes Coral Group, has said that as many as 1,000 of London’s 1,800 betting shops could be forced to shut…
UK – Association of British Bookmakers at war over FOBT report
Britain’s bookmakers are demanding an urgent inquiry into a new report by the Fixed Odds Betting Terminals (FOBTs) All- Party Parliamentary Group. It has lodged a complaint with a Parliamentary Watchdog over what it claims is a rules breach in not naming who financed the report. The report calls for a £2 per spin maximum…
UK- Hydra Industries Acquisition Corp. to buy Inspired
Hydra Industries Acquisition Corp., a special purpose acquisition company formed for the purpose of effecting a merger, acquisition or similar business combination, has entered into a definitive agreement to acquire Inspired Gaming from funds managed by Vitruvian Partners, a London headquartered private equity firm. The transaction reflects a valuation for Inspired of £200m, including the…
