Stocks of UK based betting companies plummeted last weekend after the gaming regulator of the country, United Kingdom Gambling Commission (UKGC) mentioned that it was ready to check out the proposition of capping the maximum stakes for slots at UK-licensed online casinos at two pound sterlings.
On Thursday, the chief executive officer of the United Kingdom Gambling Commission, Neil McArthur conveyed to the politicians that he would mull over the proposition and would present with a verdict within the upcoming six months.
Investors instantly ran into a widespread state of panic, cutting off over 1.2 billion pounds off the value of United Kingdom betting stock by Friday morning. On the news, shares in William Hill and GVC Holdings dropped by over six percent. Furthermore, 888 Holdings dropped by around 1.5%.
In the month of November last year, an all-party parliamentary group suggested fundamentally putting down the stakes on online slots to bring them in line with fixed-odds betting terminals. It is to be noted that the aforesaid machines offer electronic versions of slots and casino games. One can find these machines in retail betting outlets throughout the nation.
What is your opinion about the online slots-cap plan of two pounds being considered by the UK government? Let us know in the comments below!
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