B2 machines

Cost savings hike at Ladbrokes Coral prompts analyst upgrades in spite of £200m pre-tax loss

Posted on March 28, 2017 by admin

Ramped up cost savings at bookmaker Ladbrokes Coral prompted analyst upgrades even though the price of the merger pushed the combined business to a more than £200m pre-tax loss.

Chief executive Jim Mullen said cost savings would now hit £100m a year by 2019 – up from the £65m that the company had previously forecast – because the increased scale of the business would allow it to strike better deals with the likes of technology providers.

Read the full story in The Telegraph

Ladbrokes Coral would be wise to prepare for life without FOBTs

Posted on March 28, 2017 by admin

Ladbrokes Coral was a faller on the stock market as the company unveiled the first set of full year results after the completion of its mega-merger.

With the bookie announcing a thumping loss (more than £200m) thanks to costs incurred as a result of the £2.2bn deal that brought high street staples Ladbrokes and Coral together, perhaps it shouldn’t come as a surprise that investors refused to leave their stables.

Read the full story in The Independent

Govt response to problem gambling has ‘failed spectacularly’

Posted on March 23, 2017 by admin

Gamblers are continuing to lose an increasing amount of money on gaming machines, despite a Government crackdown.

The Government aimed to tackle high spending on addictive Fixed-Odds Betting Terminals (FOBTs) – known as the ‘crack cocaine’ of gambling – which have been closely linked with problem gambling.

The maximum bet that can be placed is £100, and gamblers can stake this every 20 seconds.

Read the full story on the Christian Institute website

UK Players Continue to Lose Money on FOBTs Despite Regulatory Measures

Posted on March 23, 2017 by admin

The amount of money that UK players are spending on fixed-odds betting terminals (FOBTs) has considerably increased in spite of all the measures imposed on the industry and operators by the country’s Government.

The fixed-odds betting machines have recently provoked fierce debates and have made competent authorities express their concern related to the eventual negative consequences for customers. The FOBTs provide players with the chance to play various casino games and place a stake of up to £100 every 20 seconds. Both the Government and the regulatory authorities have taken some measures in order to reduce the harm inflicted to players. As part of this crackdown, they officially announced their intentions to minimise the maximum amount that could be placed as a bet on the machines at a time. Despite these measures, the amount lost on FOBTs has rose to £126 million over the past twelve months.

Read the full story in Casino Guardian

BACTA attacks FOBTs

Posted on March 23, 2017 by admin

The UK government is about to begin consultation on changes to gaming machine stakes and prizes, prompting trade association BACTA to appeal to its members to press their local members of parliament for support.

Chief among its aims is to have the stake reduced on fixed-odds betting terminals, which are commonly found in bookmakers’ shops.

Read the full story on Intergame Online

Seven Gambling Customers Lose £10,000 in a Day on FOBTs, GambleAware Says

Posted on March 23, 2017 by admin

Seven UK gambling customers lost over £10,000 in a single day on fixed-odds betting terminals (FOBTs) over a researched 10-month period, problem gambling support charity GambleAware said in a recent filing to the Government.

UK MPs are currently conducting a traditional triennial review of the country’s gambling industry. The latest review was announced as one that would be particularly focused on the controversial gaming devices, located in betting shops across the UK.

Read the full story in Casino News Daily

Gamblers ‘lost more than £10,000’ on fixed-odds betting terminals

Posted on March 23, 2017 by admin

Seven gamblers lost more than £10,000 in a day while using controversial fixed-odds betting terminals (FOBTs) during a 10-month period, it has emerged.

The losses, revealed in a submission to the government’s gambling review by the GambleAware charity, has sparked renewed criticism of FOBTs.

The charity analysed data from betting sessions, including cases where punters bet the maximum allowable amount of £100, which can be staked every 20 seconds under existing regulations.

Read the full story in The Guardian

See how fast ‘crack cocaine’ betting machines swallow a day’s pay

Posted on March 23, 2017 by admin

Betting machines can swallow a whole family’s daily income in less than a quarter of an hour, an ECHO investigation can reveal.

Fixed-odds machines or FOBTs have been dubbed the “crack cocaine” of gambling, with critics alarmed by how swiftly they can hoover up cash and fears they could be addictive.

Gamblers lose £126m MORE on ‘crack cocaine’ betting machines despite Government crackdown on them

Posted on March 23, 2017 by admin

The amount of money gamblers are losing on ‘crack cocaine’ betting machines in bookmakers has soared despite a Government crackdown.

The machines, called fixed-odds betting terminals (FOBTs), allow players to stake up to £100 every 20 seconds on casino games such as roulette.

In an attempt to minimise the harm to gamblers, ministers introduced a rule banning them from staking £50 or more a time unless they approach staff in their bookmakers and get the request signed off. Despite this, the amount lost on FOBTs has shot up by £126million over the past year.

Read the full story in the Daily Mail 

Threat to slash gaming stakes leaves bookies riding for a fall

Posted on March 23, 2017 by admin

On the opening day of the Cheltenham Festival, 25-1 outsider Labaik stormed to victory, kicking off a good week for bookmakers and a wipe-out for punters.

But, while champagne glasses clinked in the sunshine last week, a government inquiry has cast a cloud over the gambling industry. A sweeping review of gambling machine stakes and prizes is set to hit the bookmakers, with high street shops in the line of fire.

Read the full story in The Times