Fonix PLC – London-based mobile payments and messaging services for media, telecommunications and other enterprise clients – Notes that the gambling regulation bill, which has been under consideration by the Irish government since December 2022, has been approved and will pass into law once enacted by the Irish President. The bill aims to set up a new Gambling Regulatory Authority of Ireland to oversee the licencing and regulation of gambling, betting and certain lotteries. It contains no specific references to broadcaster prize draws or prize draws with ‘no purchase necessary’ route of industry. Irish broadcaster customers, which represented “the vast majority” of Fonix revenue streams outside the UK in 2024, are therefore seeking legal advice on the potential impact of the bill on business.
Fonix expects customer services in Ireland to continue to operate unchanged, but recognises this could change as the regulatory position becomes clearer. Until then, it says market expectations for the year remain unchanged.
Current stock price: 234.37 pence, down 4.3% in London on Friday afternoon
12-month change: up 15%
By Emily Parsons, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2024 Alliance News Ltd. All Rights Reserved.