Gambling firms in the UK see shares drop

The report from the BBC impacted on the companies’ shares. Credits: William Hill Promotions

The gambling firms took a hit on Thursday after a report indicating a ban on ads during live sports events emerged.

UK.- A proposed ban on TV adverts during sports broadcasts was reported by the BBC on Thursday, and the news indicated that major bookmakers have already agreed to the ban. Despite the fact that the Remote Gambling Association (RGA) said the rumours were false, gambling firms took a hit after shares dropped.

Shares in William Hill and 888 decreased almost 3% and 5% respectively, while GVC’s share price closed down 5.6%. The report indicated that the three companies and other members of the Remote Gaming Association voluntarily agreed to the ban on betting ads.

However, the Independent reported that the RGA explained that nothing has been finalised and that there are several possible options that are being considered in order to change the industry’s advertising code.

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