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UK companies hit by regulations
Commenting specifically on disappointing financial results from Rank, Keith Bowman, equity analyst at Hargreaves Lansdown Stockbrokers summarised the general picture in regard to legislative changes in the UK. He said "...it appears that investors had been underestimating the impact of the smoking ban and overestimating the benefits of gaming deregulation."
Casino operator Genting said that it had lost almost £130 million as a result of the UK's smoking ban and a rise in gaming duty, while Rank announced it wouldn't be paying a dividend and was cutting back on capital projects.
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