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William Hill drops on limiting fixed-odds betting

William Hill’s share prices slumped, dragged down by the government’s decision to cut the stakes on the fixed-odds betting terminals from a staggering £100 every 20 seconds to £2.

William Hill’s shares fell more than 6.5 percent in early trading on Thursday, while GVC Holdings, which recently buyed Ladbrokes Coral Group, slipped more than 4 percent.

William Hill said the goverment's move to slash the maximum stake on FOBTs could lead to unprofitability of 900 of its stores, taking into account that stakes in excess of the proposed £2 threshold have generated almost 70 percent of total gaming machine net revenue since the start of the current fiscal year.

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