UK bookmaker Ladbrokes Coral is set to cut £8m it spends each year on sponsoring sports as a result of the new rules being contemplated by the UK government on gaming machines.
The UK government is to combat online gambling and will try to cut maximum stakes on Fixed Odds Betting Terminals (FOBT) from £100 to as little as £2 according to the BBC.
Ladbrokes, which earns most of its income via the machines, will incur a huge loss if the government’s decision comes through.
Ladbrokes currently invests £3.5m in sponsorships on horseracing events and also Read full story ›
Source: The Drum
Industry News