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Announcing the restriction on FOBT stakes in May 2018, then Culture Secretary and MP for the constituency which includes Newmarket, Matthew Hancock, piously stated that “horse racing should not be financed on the back of this [FOBT] misery”. He went on to claim that “horse racing is a wonderful sport than can, and will, pay for itself”. But words are cheap and in his political desire to appear virtuous Hancock did not say how racing would pay for itself. Some racing trainers are now finding that you can’t eat virtue. Read More
Stride Gaming is considering a sale of the business as one of various strategic options for the company. The company was floated in May 2015 at a price of 132p and moved to a high of 300p before the UK Gambling Commission (UKGC) intervened imposing fines of £7.1m for failures in AML and social responsibility. Read More
UK Work and Pensions Secretary Amber Rudd wants to create a new offence for those that “wilfully or recklessly” mismanage pension funds. Read More
