Gambling shares fall as regulator mulls online stake limits
By Sean Farrell
Date: Thursday 13 Feb 2020
(Sharecast News) - Gambling shares fell after the industry watchdog said it would examine arguments for imposing limits on stakes placed by online gamblers.
Neil McArthur, chief executive of the Gambling Commission, told a parliamentary committee he would consider limits for online stakes in response to political calls for greater protection for vulnerable gamblers.
William Hill shares fell 5.9% to 184.5p at 13:08 GMT. GVC dropped 5.3% to 882.21p and Playtech was down 5.2% to 348.2p.
"A review of stake limits online has been clearly recommended by the all-party parliamentary group and is long overdue," Carolyn Harris, who chairs the committee on gambling-related harm, said. "I am very pleased that the Gambling Commission has finally seen sense on this."
She reiterated the committee's view that online slot machine games should be limited to ?2 a spin in line with rules for physical slot machines in betting shops. Gambling companies have been hit by tighter regulations amid mounting political concern about gambling addiction for vulnerable people.
The Conservative government has promised a review of legislation that could bring in further measures and extend restrictions to online gambling.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN