Shares in Britain's betting shop chains rallied this afternoon after they reached an agreement with casino operators and the British government allowing them to keep so-called fixed-odds betting machines in their shops.
Shares in William Hill and Stanley rose by more than 3.5% in London.
The British government said it had ratified a code of practice agreed by the Gaming Board of Great Britain and the Association of British Bookmakers to allow betting shops to continue operating fixed-odds machines, while limiting their number, maximum prize and range of games.
The Gaming Board had threatened to take bookmakers to court over the machines, which enable punters to bet on games such as virtual horse racing. It argued that they were a form of gaming that fell outside the remit of bookmakers and were not subject to the same regulations as casinos and so could be abused by gambling addicts.
The Gaming Board and ABB agreed each betting shop would be restricted to a maximum of four machines, whether conventional slot machines or fixed-odds terminals.
Earlier, the British government launched a widely anticipated draft bill to deregulate gambling laws, which could benefit betting shops and casinos alike.
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