The London market drifted lower on Monday after betting stocks tumbled following reports that the Government will slash the maximum stake on fixed-odds betting terminals (FOBTs). The London market drifted lower on Monday after betting stocks tumbled following reports that the Government will slash the maximum stake on fixed-odds betting terminals (FOBTs). Paddy Power Betfair was down more than 2%, or 175p to 8,275p, while its second-tier rivals Ladbrokes Coral and William Hill dropped 14.5p to 168p and 39.1p to 297.2p respectively. Paddy Power Betfair share price (PA) Foxy Bingo owner GVC, which has agreed a takeover by Ladbrokes Coral, also sank 11.5p to 926.5p on the FTSE 250. The biggest fallers were Rentokil down 9.4p to 306.7p, Relx down 43.5p to 1,603p, Paddy Power Betfair down 175p to 8,275p, Rolls-Royce Holding down 17.2p to 875.6p.

Source: Irish Independent January 22, 2018 17:48 UTC