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ShInvestors Still Like FOBT Stock Shares
Wednesday April 30,2014 : INVESTORS STILL LIKE BOOKIE SHARES
Despite the media doom and gloom over betting shops and FOBTs, shares are on the way up.
Investors could be forgiven for having reservations about buying shares in British bookmaking companies after the past few weeks of media and activist bashing on betting shop proliferation and fixed odds betting terminals, but in fact industry rumours and looking on the brighter side are pushing share prices back up.
Reuters reported Tuesday that suggestions that the government crackdown on betting shops and maximum betting levels on FOBTs had a more positive side and mitigated earlier fears of severe impacts.
And in the case of Ladbrokes, the persistent industry rumours that Paddy Power is working with private equity companies with the goal of acquiring the major online and land betting group boosted interest in the company.
Ladbrokes, along with other key players in the bookmaking sector, may also benefit from the veto power handed to local councils regarding the licensing of betting shops; analysts have pointed out that this is a restriction that will have benefits for already established companies, because it will make it harder for new competitors to expand into their High Street business areas.
More optimism has also been generated by suggestions from reliable sources that the government's crackdown on FOBTs may not be as severe as was first thought. Instead of chopping the maximum bet possible, it now appears that the government will be satisfied if an alternative regime is introduced whereby punters will have to interact with betting shop staff if they want to bet more than GBP 50 on the terminals.
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Gambling News :
Phil Ivey Loses Borgata Casino -
Phil Ivey has lost in his four-year legal tussle with the Borgata over baccarat winnings; on Friday a US federal judge ruled that he and a companion violated New Jersey state gambling regulations in the manner in which they won nearly $10 million playing at the Atlantic City casino.
NYX Gaming in deal with Endemol -
"Endemol Shine’s IP will be a strong addition to the NYX portfolio of content and we look forward to working together to bring additional instantly recognizable brands to market.”
NEW CAMBODIAN GAMBLING LAWS -
After more than two years of debate and drafting, Cambodia may be closing in on final agreement regarding its proposed gambling law changes.
Playtech Acquires ECM Systems -
Online gambling soiftware provider Playtech plc has announced the acquisition of a ninety percent stake in UK bingo software developer ECM Systems for a consideration of GBP 14.9 million.
Marks and Spencer store Manager steals to Gamblie Online -
The Cambridge News reports that a 28-year-old manager of a Marks and Spencer store, Martin Trenor, has been jailed for three years for stealing GBP 254,538.11 in shop takings over the course of a year and spending it almost immediately at online gambling websites.
Chinese Gambling crackdown could damage high roller revenue -
Fast-moving events this week have seen Australian media reports quoting hundreds of millions of dollars wagered by Chinese high rollers in Aussie land casinos, offset to some extent by Crown claims that this whale gambler" demographic generates only 12 percent of turnover.
EvenBet Open Face Chinese Poker -
Open Face Chinese Poker online games provider EvenBet has reported that its Open Face Chinese Poker product is gaining traction with games recently integrated for desktop action at the Malta-licensed operational site Poker Grant.
2016 EPT Malta -
The European Poker Tour is off to a good start in Malta, with German pro Dietrich Fast claiming a well-earned Euro 174,000 main prize in the Euro 10,000 buy-in Single-Entry Rebuy event.
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