According to BBC Business news one of the big bookmakers profits are down by 2/3rds and they will be shutting a number of shops.
I do feel sorry for those who work there as at the end of the day it's their jobs on the line.
Given the profit FOBT's bring it has to mean the message is getting through and less people are playing them. Hope so anyway.
http://m.bbc.co.uk/news/business-26334331
Looks like the dip in profits was due to them investing heavily in there online business before the world cup which has massive potential as far as profits are concerned.also there 9000 fobt will be replaced with more sophisticated models.whatever that means! I think the bookies are going into a PR offensive due to the negative press recently.any of us that are problem gamblers can see right through this.
Hi Newhorizon. Yes we can see through it.
This bit is music to my ears:-
'********** said its profits had also been hit by a greater than expected slowdown in gaming machine revenues, as well as a change to the way the machine profits were taxed
Businesses never come out and just say we have had a very bad year they will always find something to blame. Whichever way they cut it a 2/3rds reduction in profits is a disaster and another one of those would bring them to their knees.
Let's hope they continue to get it wrong and the others suffer a similar fate.
Just second guessing here but by investing heavily in the online side of the business are they expecting the inevitable regulation of fobts and therefore a drastic reduction of profits in future.
Very possible as they will be regulated at some stage without doubt. Probably be used as a vote winner in the next election. It makes no odds to me personally but will save lots of problems for others.
You just can't have machines accepting £100 a spin so accessible.
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