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  1. #1
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    The Buzz is offline GPWA Gossip Hound
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    Default Paddy Power Betfair announces rise in pre-tax profits

    On the heels of William Hill announcing losses from the first six months of 2018, Paddy Power Betfair reported a 4% rise in pre-tax profits to 106 million for the first half of the year, after a positive period both before and during the World Cup. The company also said it will be able to "withstand" the forthcoming 2 stake limit on FOBTs because its shops are "more profitable and outperform on sports betting."

    From a BBC report:

    "We operate in high-footfall, highly competed locations, which means we are well placed to benefit from competitor shop closures," Paddy Power Betfair said. "In the UK, we do not expect the government's proposed new 2 stake limit for gaming machines to have a material impact on our retail strategy," it added.

    Rival William Hill, which generates just over half its retail revenues from FOBTs, warned that 900 of its betting shops become loss-making, potentially leading to job losses.
    Read more here: https://www.bbc.co.uk/news/business-45110532

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    PromoteCasino is offline Private Member
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    It is funny how two of the high street giants can have differing views when it comes down to the FOBT.

    I admit there may well be closures in certain areas but for Hills to say 900 shops will go seems a bit drastic.
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