Join our community of smart investors

Gambling Commission to decide on online stake limits

Shares in listed bookies have tumbled, despite regulations being widely expected
Gambling Commission to decide on online stake limits

Shares in many of the UK-listed gambling companies tumbled after the Gambling Commission’s chief executive told the government’s Gambling Industry Committee it would decide whether to limit online gambling stakes in the next six months.

The gambling sector has been facing increasing regulatory pressure in recent years, with a £2 limit on fixed-odds betting terminals (FOBT) introduced April last year, leading to the closure of hundreds of betting shops, followed by a ban on using credit cards to gamble in January this year. Limits on online gambling are seen as a threat to the sector in the UK, as the push to establish compelling online offerings has been a key part of companies’ strategies for growth.

Shares in both GVC Holdings (GVC) and William Hill (WMH) were down 7 per cent following the news, while Flutter (FLTR) and 888 (888) were down 2 and 3 per cent, respectively.

To continue reading...
Join our Community of Smart Investors
  • Independent full-length company analysis
  • Actionable investment ideas and recommendations
  • Expert investment tools and data
  • Stock screens from Algy Hall
Have an account? Sign in