Paddy Power Betfair Urges Decision On Fixed-odds Machines
Paddy Power Betfair urges choice on fixed-odds makers
1 November 2017
Betting firm Paddy Power Betfair has actually revealed frustration that a government evaluation did not decide on fixed-odds betting terminals.
The company's primary executive Breon Corcoran stated the review, released on Tuesday, failed to provide "clearness".
Ministers proposed that bets on the makers be cut from a maximum of ₤ 100 a spin to someplace in between ₤ 2 and ₤ 50.
Mr Corcoran has previously required the stakes to be slashed to deal with prevalent social concerns.
Campaigners argue the electronic machines feed betting dependencies and can see gamers lose large amounts of cash very rapidly.
Some had hoped the government would reduce the ₤ 100 stake on Tuesday, but ministers decided instead to consult on a series of choices.
An excellent bet? The fixed-odds debate
Mr Corcoran said on Wednesday: "We have actually sought long-lasting certainty and clearness. Yesterday doesn't deliver that, however hopefully we will get there at the next phase."
The consultation closes on 23 January, but Mr Corcoran stated 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 maker video gaming in the three months to the end of September. Group revenue rose by 9% to ₤ 440m.
He has formerly written to the government stating the stakes on fixed-odds makers must be cut to "₤ 10 or less" due to the fact that the dispute has become "so toxic", according to the Financial Times, external.
The devices produced more than ₤ 1.8 bn in revenue for the industry last year, helping to support development for bookies.
Paddy Power Betfair urges choice on fixed-odds makers
1 November 2017
Betting firm Paddy Power Betfair has actually revealed frustration that a government evaluation did not decide on fixed-odds betting terminals.
The company's primary executive Breon Corcoran stated the review, released on Tuesday, failed to provide "clearness".
Ministers proposed that bets on the makers be cut from a maximum of ₤ 100 a spin to someplace in between ₤ 2 and ₤ 50.
Mr Corcoran has previously required the stakes to be slashed to deal with prevalent social concerns.
Campaigners argue the electronic machines feed betting dependencies and can see gamers lose large amounts of cash very rapidly.
Some had hoped the government would reduce the ₤ 100 stake on Tuesday, but ministers decided instead to consult on a series of choices.
An excellent bet? The fixed-odds debate
Mr Corcoran said on Wednesday: "We have actually sought long-lasting certainty and clearness. Yesterday doesn't deliver that, however hopefully we will get there at the next phase."
The consultation closes on 23 January, but Mr Corcoran stated 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 maker video gaming in the three months to the end of September. Group revenue rose by 9% to ₤ 440m.
He has formerly written to the government stating the stakes on fixed-odds makers must be cut to "₤ 10 or less" due to the fact that the dispute has become "so toxic", according to the Financial Times, external.
The devices produced more than ₤ 1.8 bn in revenue for the industry last year, helping to support development for bookies.