Company Reports

William Hill, one of the largest British bookmakers, has confirmed that it may have to close up to 900 of its high-street betting shops because of the recent crackdown on gambling operations in the country. The company revealed that the stricter regulatory regime on gambling would probably make many of its shops unprofitable, so about 40% of its 2,300 betting outlets in the UK could be shut. The number of stores to be eventually closed would probably depend on the overall impact which the new regulations would have on customer…

For some time now, Brexit is looming over the fate of all aspects of the British economy. Despite the fact that its future is getting vaguer by the day, a so-called “hard” Brexit could turn out to be the only option for the country to leave the European Union (EU) on March 29th, 2019. At the time when Brexit was officially announced, it became clear that it would affect the entire economy of the UK, with the local gambling industry being no exception. For the time being, gambling services are…

For some time now, British gambling operators have been facing considerable difficulties due to a tighter regulatory regime. Some of them tried to oppose the UK Government’s measures and even claimed that the crackdown imposed on fixed-odds betting terminals (FOBTs) would make them close some of their high-street betting outlets and fire some of their employees. There has been a gleam of hope for British gambling companies that overseas operations could help them offset the negative impact that projected shop closures and reduced maximum FOBT stakes are expected to bring.…

The largest bookmaker in the UK – GVC Holding – has warned that Ladbrokes and Coral betting outlets will turn to a relatively small part of the group’s operations. According to a pre-closing trading statement issued by GVC Holdings, the company’s full-year profits are expected to be in the range from £750 million to £755. The company’s Chief Executive Officer Kenny Alexander said that the UK retail sector is in what he called a “terminal decline”. In an interview for The Telegraph, Mr Alexander explained that digital operations become larger…

A long-running legal case related to the lawsuit filed by Megan McCann against British gambling giant bet365 seems to be suggesting co-operation between the company and the money-transfer operator Skrill. Ms McCann has taken the bookmaker to court over a £25,000 bet on four races in Britain and Ireland. The bet was placed via the bet365 website in June 2016. The winnings generated by this particular wager amount to a bit over £975,000 but the gambling operator has refused either to pay out the winnings or to return the initial…

British gambling operators, which have been making heavy investments on expansion into the American market due to tighter regulations in the UK, saw a decline after the US Department of Justice rolled out an opinion which could lead to wider restrictions on online gambling across the country. The US Department of Justice published a legal opinion on January 14th, stating that interstate online gambling was illegal after federal law. This resulted into an immediate stock drop of British investors who have lately been eyeing an expansion in the lucrative sports…

The British bookmaker William Hill has reached a settlement of its lawsuit against US rival FanDuel, alleging that the latter used its “How To Bet Guide” copyrighted material without permission. The case was settled a week or two ago but it was made public Monday night. According to a recent federal court filing, the case is now closed, with the US arm of William Hill having voluntarily dismissed the lawsuit. The court filing, however, did not provide any information about what actually happened between the two companies. Joe Asher, the…

For years, gambling has been a men’s prerogative. Nowadays, there are still more men who gamble but the last few years have seen a sharp increase in the number of women, and even children, who turn to gambling. Logically, gambling addiction is not a problem faced by men only anymore. A former female gambling addict, however, shared that there are not as many women speaking out about the problem despite the fact that the number of women who deal with the consequences of compulsive gambling is actually rising. Even more…

Today, the Government’s Department for Digital, Culture, Media and Sport (DCMS) revealed that some of the largest bookmakers in the UK have agreed to make additional payments of up to £3 million in order to guarantee better care for thousands of racing greyhounds. The voluntary commitment was made by a number of gambling giants, including William Hill, Paddy Power Betfair, Betfred and Sky Betting and Gaming after discussions with the DCMS, which has urged operators to ensure a fair return from their profits to the industry. The agreement also follows…

A project for a controversial adult gaming centre situated in Ashbourne town centre is expected to be officially approved by competent authorities. This week, the district council issued a report which recommends an approval to be given to an application from Benny Morabbi who has been aimed at turning the ground floor of the building into an adult gaming centre, offering slot and quiz machines. The stakes offered on the machines are set to vary from 5p to £1. The site, which in the post hosted the former Union Street…