Gambling firms hit the jackpot after Government review
Gambling companies hit jackpot in shakeup: government review introduces less drastic changes than feared
Gambling companies breathed a sigh of relief after the government released a long-awaited white paper.
The review, delayed by more than two years, included plans for a 1 percent levy on revenues, new limits on online slots, and easing restrictions on casinos and bingos.
Less drastic than the industry once feared, the changes targeted extreme gamblers rather than blanket rules that crack down on casual gamblers.
All in: Daniel Craig as James Bond in Casino Royal. Gambling companies. A long-awaited white paper on the gambling industry has led to less drastic changes than feared
Shares in Grosvenor casino owner Rank Group rose 10.3 percent, but Ladbrokes owner Entain and Paddy Power’s Flutter fell.
Analysts at Numis think that Rank, which also owns Mecca Bingo, would be the “clear winner” if casinos were allowed to have 80 slot machines, instead of 20 – something operators have long wanted.
Despite a suggestion to limit online slots bets between £2 and £15, Goodbody analysts said the plans were ‘largely positive’.
The Betting and Gaming Council, which represents 90 percent of licensed gambling and betting companies, praised the plans.