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William Hill posts £63.5m loss after FOBT stake is cut

High-street bookmaking sales fall 12% after a slump in income from the machines William Hill reported a loss of £64m in the first half of the year as it coped worse than its rivals with the impact of curbs on fixed-odds betting terminals (FOBTs) , a change that has cost the company nearly £1bn. Shares in William Hill rose by more than 5% in early trading as the markets responded with relief that its results were no worse than expected. Fixed-odds betting terminals (FOBTs) are gaming machines found usually in bookmakers’ shops. They allow gamblers to play a variety of games, including roulette, bingo and simulated horse and greyhound racing. The machines promise the potential of large wins of up to £500. Related: Britain's bookmakers jockey for position in US betting watershed | Rob Davies Continue reading...

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