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Prob with fobt s is that those losing £100 per spin are often people who are losing their weekly wages .Investing in individual stocks is considered extremely high risk by most fund managers .GVC is a relatively sensible ( & now blue chip) stock with growth potential & a reasonable yield but my portfolio is skewed towards high risk AIM stocks which have a higher propensity to multi bag ...... of go under
impossible to justify the previous £100 stake on fobt's ......anybody who plays them must be a moron.
I would be surprised if we don't see a steady flow of shop closures over the next 2/3 years ,particularly as leases end & I expect we will have a much smaller retail estate to coincide with the reduction to £2. Kenny us no mug & I am sure he wouldn't have acquired the retail estate unless he could do so very cheaply & with view to sweating the assets before disposals
In short Ladbrokes able to keep FOBT going for another year so why the sp drop? (Sharecast News) - Bookmakers were cheering on Friday following a report that the new £2m maximum stake on fix-odds betting machines will not be implemented until April 2020 after the Treasury agreed to a backroom deal. Last month the government cut the maximum stake on fixed-odds betting terminals from £100 to £2, with sports minister Tracy Crouch saying it was designed to reduce the potential for large losses and "the risk of harm to both the player and wider communities". Bookmakers warned the limit could lead to thousands of outlets closing, although the investors seemed to take this doomsday warning with a large pinch of sale as shares in all the major firms rose. According a report in The Times on Friday, bookies have convinced the Treasury - which has always been worried about the hit to tax receipts from a lower stake - that they need more time to reprogram the terminals. The delay is thought to allow the industry, which was already celebrating the recent lifting of a ban on sports betting in the US, to earn a further £4bn from the machines dubbed the 'crack cocaine of gambling'. A spokesman for the Campaign for Fairer Gambling said: "Unbelievably, the Treasury thinks it takes two years for the bookmakers to run a software update. Somehow ministers have contrived to give the bookies a longer transition period than it will take to negotiate Brexit."