Ladbrokes CEO Believes press are in “burn the witch territory” with Gambling Sector
Jim Mullen boss of Ladbrokes
Jim Mullen the CEO of Ladbrokes Coral one of the largest betting companies in the UK has said in a recent conversation with the British Racing Association that the industry “is now in ‘burn the witch’ territory.”
His comments come after a string of negative reporting from national press on the effects of Fixed Odds Betting Terminals (FOBTs) and the damage they are said to be doing to gamblers along with the media attacking the industries advertising practices and social responsibility standards. Most recently came the August news of 888 who were fined nearly £8 million for gambling compliance failures.
Mullen said, “we are, verging on cabbages and heads in stocks.” The CEO is worried that the negative press will impact on the Government review into FOBTs this October with politicians reducing the stakes bet on the machines to show they are doing something and to keep newspapers happy, even thou no real evidence on the impact of FOBTs has been proven says Mullen.
He stated that “The business side is if there is a cut in stakes based on no evidence, putting aside how morally incorrect that it is, then we’re putting our people’s jobs at risk.” Mullen said previously that up to 9,000 jobs could go if there is a drastic cut in stakes bet especially in the London area.
