Sunday Times comment13 May 2018 21:13
Bookmakers are pushing for a one-year transition period should the government opt to impose a �2 maximum stake on fixed odds betting terminals (FOBTs) � the �crack cocaine� of gambling.
A decision by Theresa May on whether to cut the top stake from �100 to �50, �30 or �2 is expected in the coming days. Critics say that the machines are highly addictive and a �social blight�. There were more than 230,000 individual sessions last year in which a player lost more than �1,000.
Britain�s biggest high street betting chains have warned of widespread shop closures and job losses should the government go ahead with its threat to cut the maximum stake to �2.
William Hill, which employs about 14,000 people, is pushing for a period of grace if the �2 stake is announced later this month. However, the company is not optimistic of securing a full year.
Greg Knight, managing director of the independent bookmaker JenningsBet, is calling for a probationary period � allowing the industry to prove itself with a �20 stake
So how does this leave any additional payment due to Lads shareholders? At �2 they get nothing however if its �20 in 2018 and �2 in 2019 ................
I would like to hear some thoughts