“HSBC analysts estimated that share prices are building in a cut to a maximum limit of £10-£20” was the warning from city analysts as bookmaker share prices went from “buy, buy, buy” to “hold” and then “bloody well sell as quick as you can”.
The impending regulatory clamp down on the bookies’ two golden geese, FOBTs and advertising, has got CEOs and budding CEOs in a right spin. One such aspiring CEO, Philip Bowcock, was trying to maneuver himself into pole position for the top job at William Hill and proudly announced his solution for the Government stating: “we are sympathetic to some sort of curb or some sort of review around the level of advertising”.
Someone better wake up bright spark Bowcock. The Government just held “some sort of review” and is planning “some sort of curbs”. As well as being clueless on the political front, he isn’t that sure about Hills’ company status either stating, “you could say that we are a little bit more corporate”. That’s right Phil – the big blue company you have today been put in charge of, is a PLC!
Over in the red corner, Ladbrokes CEO Jim Mullen continued his FOBT crazy tirade claiming: “ministers are gambling with the jobs of thousands over betting terminals”. He urged ministers and MPs to “step back from the fray and take a serious look at the facts”.
However, as ministers and MPs opened their newspapers the next day, the evidence and the facts hit them that Mr Mullen is gambling with the lives of his staff every single day with another lost life just this week!
Content produced and sponsored by Campaign for Fairer Gambling