William Hill Points Finger at FOBTs Decision to Close up to 700 Outlets

In the UK, humongous bookmaker William Hill has reportedly declared plans to shut down up to 700 shops since it seeks to offset some £820 million ($1.02 billion). It is a result of loses after the nations imposition of stricter regulations on (FOBTs) fixed-odds Sports Betting terminals. Job losses According to reports from trusted sources, the London-based and headquartered regulator said that the move could send home around 4500 jobless people.

Nevertheless, it has promised to use voluntary redundancies and assist retrenched workers in obtaining alternative jobs. Regulatory re-write Newspaper reported that new regulations came to effect in April which reduced the maximum FOBT stake from £100 ($125) per spin down to only £2 ($2.50) further stating that this had already led top operators Betfred and Ladbrokes Coral Group to conceal like estate reduction plans.