Paddy Power co-founder says more can be done to guard against problem gambling
News on 10 Mar 2018
News on 10 Mar 2018
In an interview with The Times this week former Paddy Power CEO and co-founder Stewart Kenny (65) opined that more needs to be done by operators to guard against problem gambling, suggesting that imposing loss or deposit limits, and perhaps the imposition of cooling off periods before any limit changes are made could be effective.
Kenny said that such moves could stop punters losing large sums in single sessions, especially in online casino games, where machines such as Fixed Odds Betting Terminals in retail shops generate significant profits for bookmaking firms. Kenny has in the past been critical of the controversial machines, reportedly being concerned at the potential impact on compulsive gamblers.
The son of an Irish High Court Judge, Kenny co-founded Paddy Power (now Paddy Power Betfair), one of Europe’s most valuable gambling companies, in 1988 with partners David Power and John Corcoran. He retired in late 2016 with a personal fortune of Euro 77 million and still owns shares in the company.
