January 22, 2018 / 8:27 AM / a year ago

British bookmakers' shares fall on fears of govt clampdown

Jan 22 (Reuters) - Shares in British gambling companies William Hill and Ladbrokes Coral, which run retail betting shops, fell by more than 12 percent on Monday on reports that Britain is set to lower the limit on betting shop terminals to 2 pounds ($2.77) from 100 pounds in a move that could hit their revenue.

The move is being taken to help tackle the issue of problem gambling, the Sunday Times newspaper reported, citing an ally of new culture secretary Matt Hancock.

The government said in October it would reduce the top stake on the machines to between 2 and 50 pounds from 100 pounds depending on the outcome of a consultation which ends on Tuesday.

Reporting by Rahul B in Bengaluru; editing by Jason Neely

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