William Hill alerts prime minister over FOBTs guideline change

15 May 2018

ByDominic O'Connell Today Programme Business Correspondent

The chairman of bookmaker William Hill has cautioned the prime minister his firm threats being bought by a foreign rival if it is damaged by new betting rules.
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In a letter to Theresa May, Roger Devlin said modifications to the amount that can be wagered on High Street betting machines could strike tasks and profits.

The federal government is anticipated to announce imminently a last decision on its review fixed-odds wagering terminals.

He proposed harder guidelines on adverts and a levy to help issue gamblers.

Currently, fixed-odds wagering terminals (FOBTs) enable players to stake up to ₤ 100 every 20 seconds.
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An evaluation's interim findings suggested cutting the maximum stakes to ₤ 30, but there have actually been reports that the quantity might be cut to just ₤ 2.

Anti-gambling campaigners, who have dubbed the fixed-odds machines the "fracture drug" of gambling, support the move.
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Bookies, however, have warned that such a cut would result in the closure of thousands of outlets, a big reduction in to the Treasury, and would have knock-on results on the horse racing industry.
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'Catastrophic'
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Bookmakers support horse racing through a market levy and offering prize cash.

Mr Devlin's letter, first reported by Sky News and seen by the BBC, stated UK betting was "extremely well managed".

He composed: "Sadly, I fear that your government will make a decision that is unnecessary and lacking in proof - a decision that will also be devastating for a retail betting market utilizing over 40,000 people."

"Consolidation within our sector continues and I would also not desire to see the impact of a disproportionate ... result being a consider the name of William Hill being included to the list of business now in foreign ownership," he stated.

Mr Devlin stated William Hill supported a restriction on gambling advertising on tv before the watershed, and a levy on the market to pay for education and treatment of problem gamblers.

Mr Devlin, who was appointed chairman of the bookie previously this promotion code year, is also chairman of the housebuilder Persimmon, which has been racked with debate over a generous executive pay plan.
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Shares in William Hill have actually been hit hard by worries that fixed-odds stakes would be cut, falling dramatically last month on reports that the chancellor, Philip Hammond, would not oppose the relocation.

On Monday, however. William Hill shares leapt after the US Supreme Court bied far a ruling that would allow states to legalise sports betting, opening a big possible new market to gambling companies.

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