|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Business & Economy (Click here for more)

UK Gambling Companies Bet on Financial Hit Following Staking Limits

LONDON – British gambling companies said Thursday that their financial performances will be negatively affected following a decision by the United Kingdom government to reduce the maximum bets that can be placed on fixed-odds betting terminals to 2 pounds ($2.70).

The UK Department of Digital, Culture, Media and Sport said it decided to reduce the maximum stakes on fixed-odds betting terminals, described as the “crack cocaine of gambling,” from 100 pounds following a government review.

GVC Holdings PLC said it expected group earnings before interest, taxes, depreciation and amortization to be negatively affected by 120 million pounds as it repositions its business to manage the change in legislation.

William Hill PLC said the reduction of the maximum stake could cause a 35 percent to 45 percent fall in its total net gaming revenue, adding that about 38 percent of its retail estate could become loss-making as a result.

Paddy Power Betfair PLC said the new stake limit could cause a 33 percent to 43 percent decrease in its total machine gaming revenue.

 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2018 © All rights reserved