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BUZZ-British bookies: spooked again on report of sharp FOBTs stake cut

Reuters - UK Focus

** UK bookmakers' shares come under pressure again after reports that UK govt will slash top limit on FOBTs to 2 pounds

** A move to cut the maximum stake on highly addictive gambling machines to £2 is set to be announced within weeks as the Treasury signalled a deal last night, The Times reports https://goo.gl/yiziii

** Times adds UK Chancellor had delayed signing off the move in a Whitehall (govt) dispute over how lost taxes would be replaced

** Morgan Stanley (Xetra: 885836 - news) expects 2 pound scenario to result in a further ~18 pct hit to William Hill EPS and ~3 pct to Paddy Power Betfair

** Shares (Berlin: DI6.BE - news) of William Hill (Frankfurt: 633847 - news) (-10 pct), GVC Holdings (Frankfurt: 6GI.F - news) (-4.5 pct), Paddy Power Betfair (Other OTC: PDYPF - news) (-2.7 pct)

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** In Dec., lawmakers suggested that Britain should reduce the overall amount of money gamblers can stake to only 2 pounds

** Top stake could be cut from 100 pounds ($132) to between 50 pounds and as little as 2 pounds (RM (LSE: RM.L - news) : justin.varghese.thomsonreuters.com@reuters.net)