Shares recover following FOBT crackdown
A cut in the maximum stake gamblers can spend on fixed-odds betting terminals has failed to dent confidence in the Island's sector.
The UK government announced a drastic crackdown on the machines - which have been blamed for fuelling gambling addiction - on Thursday.
Athol Street gaming giant GVC, which develops technology for the machines, warned the move would lead to job losses and significantly harm profits.
Though shares dropped by almost 5% upon the announcement, the group had recovered to an almost month-high on the London Stock Exchange by closing on Friday.
CEO Kenny Alexander said GVC was trying to 'ensure a positive future for the sector and the many millions of customers who enjoy [its] products responsibly.'
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