Paddy Power Betfair Urges Decision On Fixed-odds Machines
Paddy Power Betfair urges choice on fixed-odds machines
1 November 2017
Betting firm Paddy Power Betfair has actually revealed disappointment that a government evaluation did not make a choice on fixed-odds betting terminals.
The company's primary executive Breon Corcoran stated the review, launched on Tuesday, failed to offer "clarity".
Ministers proposed that bets on the machines 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 resolve widespread social concerns.
Campaigners argue the electronic machines feed gambling dependencies and can see players lose big amounts of money extremely rapidly.
Some had actually hoped the federal government would decrease the ₤ 100 stake on Tuesday, however ministers decided rather to seek advice from on a series of choices.
A great bet? The fixed-odds debate
Mr Corcoran said on Wednesday: "We have looked for long-term certainty and clearness. Yesterday doesn't provide that, however ideally we will get there at the next stage."
The consultation closes on 23 January, however Mr Corcoran stated there might be some "drift" before the federal government makes a last decision.
Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in machine video gaming in the three months to the end of September. Group profits rose by 9% to ₤ 440m.
He has actually formerly composed to the federal government stating the stakes on fixed-odds devices need to be cut to "₤ 10 or less" because the dispute has become "so poisonous", according to the Financial Times, external.
The machines produced more than ₤ 1.8 bn in income for the market in 2015, assisting to support growth for bookmakers.
Paddy Power Betfair urges choice on fixed-odds machines
1 November 2017
Betting firm Paddy Power Betfair has actually revealed disappointment that a government evaluation did not make a choice on fixed-odds betting terminals.
The company's primary executive Breon Corcoran stated the review, launched on Tuesday, failed to offer "clarity".
Ministers proposed that bets on the machines 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 resolve widespread social concerns.
Campaigners argue the electronic machines feed gambling dependencies and can see players lose big amounts of money extremely rapidly.
Some had actually hoped the federal government would decrease the ₤ 100 stake on Tuesday, however ministers decided rather to seek advice from on a series of choices.
A great bet? The fixed-odds debate
Mr Corcoran said on Wednesday: "We have looked for long-term certainty and clearness. Yesterday doesn't provide that, however ideally we will get there at the next stage."
The consultation closes on 23 January, however Mr Corcoran stated there might be some "drift" before the federal government makes a last decision.
Mr Corcoran was speaking as Paddy Power Betfair reported an 8% increase in machine video gaming in the three months to the end of September. Group profits rose by 9% to ₤ 440m.
He has actually formerly composed to the federal government stating the stakes on fixed-odds devices need to be cut to "₤ 10 or less" because the dispute has become "so poisonous", according to the Financial Times, external.
The machines produced more than ₤ 1.8 bn in income for the market in 2015, assisting to support growth for bookmakers.