Paddy Power Betfair Urges Decision On Fixed-odds Machines
Paddy Power Betfair prompts choice on fixed-odds makers
1 November 2017
Betting company Paddy Power Betfair has actually expressed aggravation that a government evaluation did not make a decision on fixed-odds betting terminals.
The firm's chief executive Breon Corcoran said the review, released on Tuesday, failed to offer "clearness".
Ministers proposed that bets on the makers be cut from an optimum of ₤ 100 a spin to someplace in between ₤ 2 and ₤ 50.
Mr Corcoran has previously required the stakes to be slashed to attend to widespread social concerns.
Campaigners argue the electronic machines feed gambling dependencies and can see players lose big amounts of cash very quickly.
Some had actually hoped the government would reduce the ₤ 100 stake on Tuesday, but ministers decided instead to consult on a variety of choices.
A good bet? The fixed-odds controversy
Mr Corcoran said on Wednesday: "We have actually looked for long-term certainty and clearness. Yesterday doesn't deliver that, however ideally we will get there at the next phase."
The consultation closes on 23 January, but Mr Corcoran said there might be some "drift" before the government makes a last decision.
Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in device video gaming in the 3 months to the end of September. Group profits rose by 9% to ₤ 440m.
He has actually previously written to the government stating the stakes on fixed-odds machines should be cut to "₤ 10 or less" since the debate has ended up being "so hazardous", according to the Financial Times, external.
The machines created more than ₤ 1.8 bn in earnings for the industry in 2015, helping to support growth for bookmakers.
Paddy Power Betfair prompts choice on fixed-odds makers
1 November 2017
Betting company Paddy Power Betfair has actually expressed aggravation that a government evaluation did not make a decision on fixed-odds betting terminals.
The firm's chief executive Breon Corcoran said the review, released on Tuesday, failed to offer "clearness".
Ministers proposed that bets on the makers be cut from an optimum of ₤ 100 a spin to someplace in between ₤ 2 and ₤ 50.
Mr Corcoran has previously required the stakes to be slashed to attend to widespread social concerns.
Campaigners argue the electronic machines feed gambling dependencies and can see players lose big amounts of cash very quickly.
Some had actually hoped the government would reduce the ₤ 100 stake on Tuesday, but ministers decided instead to consult on a variety of choices.
A good bet? The fixed-odds controversy
Mr Corcoran said on Wednesday: "We have actually looked for long-term certainty and clearness. Yesterday doesn't deliver that, however ideally we will get there at the next phase."
The consultation closes on 23 January, but Mr Corcoran said there might be some "drift" before the government makes a last decision.
Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in device video gaming in the 3 months to the end of September. Group profits rose by 9% to ₤ 440m.
He has actually previously written to the government stating the stakes on fixed-odds machines should be cut to "₤ 10 or less" since the debate has ended up being "so hazardous", according to the Financial Times, external.
The machines created more than ₤ 1.8 bn in earnings for the industry in 2015, helping to support growth for bookmakers.