Gambling firms hit the jackpot after Government review
Gambling firms hit jackpot in shake-up: Government review introduces less drastic changes than feared
Gambling firms let out a huge sigh of relief after the Government released a long-awaited white paper.
The review, delayed for over two years, included plans for a 1 per cent levy on revenues, new online slot machine limits and the loosening of restrictions for casinos and bingos.
The changes, less drastic than the industry once feared, focused on extreme gamblers rather than blanket rules that crack down on punters who enjoy the occasional bet.
All in: Daniel Craig as James Bond in Casino Royal. Gambling firms. A long-awaited white paper on the Gambling industry has brought in less drastic changes than feared
Shares in Grosvenor casino owner Rank Group jumped 10.3 per cent but Ladbrokes owner Entain and Paddy Power’s Flutter were down.
Analysts at Numis reckon Rank, which also owns Mecca Bingo, would be the ‘clear winner’, if casinos are allowed to have 80 gambling machines, up from 20 – something operators have long wanted.
Despite a suggestion that online slot machine stakes be capped between £2 and £15, analysts at Goodbody said the plans were ‘largely positive’.
The Betting and Gaming Council, representing 90 per cent of licensed betting and gaming firms, praised the plans.