Paddy Power Betfair Urges Decision On Fixed-odds Machines
Paddy Power Betfair urges decision on fixed-odds makers
1 November 2017
Betting firm Paddy Power Betfair has actually expressed aggravation that a federal government evaluation did not decide on fixed-odds wagering terminals.
The company's president Breon Corcoran stated the review, launched on Tuesday, stopped working to supply "clearness".
Ministers proposed that bets on the machines be cut from an optimum of ₤ 100 a spin to somewhere in between ₤ 2 and ₤ 50.
Mr Corcoran has formerly called for the stakes to be slashed to resolve extensive social concerns.
Campaigners argue the electronic devices feed gambling addictions and can see gamers lose big amounts of money extremely quickly.
Some had actually hoped the government would reduce the ₤ 100 stake on Tuesday, however ministers chose instead to consult on a variety of alternatives.
A great bet? The fixed-odds debate
Mr Corcoran stated on Wednesday: "We have sought long-term certainty and clarity. Yesterday doesn't deliver that, but hopefully we will arrive at the next stage."
The assessment closes on 23 January, however Mr Corcoran said there could be some "drift" before the federal government makes a last choice.
Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in device gaming in the three months to the end of September. Group revenue increased by 9% to ₤ 440m.
He has actually formerly written to the federal government saying the stakes on fixed-odds machines must be cut to "₤ 10 or less" since the argument has become "so poisonous", according to the Financial Times, external.
The devices generated more than ₤ 1.8 bn in profits for the market in 2015, assisting to support growth for bookmakers.
Paddy Power Betfair urges decision on fixed-odds makers
1 November 2017
Betting firm Paddy Power Betfair has actually expressed aggravation that a federal government evaluation did not decide on fixed-odds wagering terminals.
The company's president Breon Corcoran stated the review, launched on Tuesday, stopped working to supply "clearness".
Ministers proposed that bets on the machines be cut from an optimum of ₤ 100 a spin to somewhere in between ₤ 2 and ₤ 50.
Mr Corcoran has formerly called for the stakes to be slashed to resolve extensive social concerns.
Campaigners argue the electronic devices feed gambling addictions and can see gamers lose big amounts of money extremely quickly.
Some had actually hoped the government would reduce the ₤ 100 stake on Tuesday, however ministers chose instead to consult on a variety of alternatives.
A great bet? The fixed-odds debate
Mr Corcoran stated on Wednesday: "We have sought long-term certainty and clarity. Yesterday doesn't deliver that, but hopefully we will arrive at the next stage."
The assessment closes on 23 January, however Mr Corcoran said there could be some "drift" before the federal government makes a last choice.
Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in device gaming in the three months to the end of September. Group revenue increased by 9% to ₤ 440m.
He has actually formerly written to the federal government saying the stakes on fixed-odds machines must be cut to "₤ 10 or less" since the argument has become "so poisonous", according to the Financial Times, external.
The devices generated more than ₤ 1.8 bn in profits for the market in 2015, assisting to support growth for bookmakers.