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10.04.2008
UK Gambling Crackdown Tabled by Tote Offtake
The UK Government is expected to cease its efforts concerning the limitation of problem gambling since it is bound to find bidders for its Tote betting business. A special highstakes gambling machines review made for the Government will most likely be tabled so that not to deter potential bidders, mentioned a source. Now the Government is interested in making the investors sure that there will be no regulatory or tax action looming. Ladbrokes and William Hill are presently considering plans to participate in the auction.
Fixed odds betting terminals (FOBTs), earning GBP 1.4 bn of the Tote's GBP 2.5 bn annually are notorious for being addictive, thus are still under consideration of the Gambling Commission, said Culture Secretary, Gerry Sutcliffe. Such machines usually play roulette, casino games and virtual horseracing.
Gambling Commission is prepared to offer the Government the implementation of such options as outright ban, limiting numbers and reducing stake money. Presently four machines per shop are allowed maximum.
A week ago the Government already declined a GBP 320 m bid from the racing industry.
However, UK Cultural Department still denies the fact that gambling clampdown plans have been put on the shelf.
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