Praesepe Sees Benefit From B3 Stake Increase
Praesepe, the AIM-listed provider of “low stakes, high volume” gaming in the UK, has reported that it is “so far so good” for the B3 category of gaming machines with the new, higher GB£ 2 stake.
Praesepe recently held its 2nd Machines Symposium and used it to review the first 100 days of the amended B3 regulations. After much consultation and lobbying by the machines sector, in July 2011 DCMS implemented an increase in stakes for B3 gaming machines from GB£ 1 to GB£ 2. The DCMS amendment reversed the original regulations in the Gambling Act 2005 which had reduced stakes from GB£ 2 to GB£ 1.
At the Symposium Praesepe published data which showed a 13.3% increase in Value of Total Play (VTP) after the implementation of the new staking levels and a 7.2% increase in the cashbox.
But Praesepe CEO Nick Harding issued a warning about Machine Games Duty, which the UK government is seeking to implement as a replacement to AMLD. Quoted in Coinslot (no 2237, p4), Harding said, “Machine Games Duty represents a massive risk which will put the gaming industry at the mercy of every future Chancellor of the Exchequer desperate to reduce the deficit. Discussions about duty levels are an irrelevance – the gambling sector will be subject to the same punitive and escalating duties as alcohol and tobacco and once the toothpaste is out of the tube there is absolutely no going back. Make no mistake, MGD would be a disaster for everyone.”