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The response from the gambling industry — though not entirely uniform — has been to protest at the shop closures, job losses and financial pain that will result. William Hill has said 900 of its stores would become unprofitable immediately, as more than two-thirds of its net revenue from gaming machines came from bets above the 2 pound limit. It said annualized adjusted operating profit would fall by an estimated 70 to 100 million pounds, after closures and cuts. But it’s hard to get that worked up about the corporate impact. Shares of GVC, William Hill and Paddy Power Betfair rose by 2 to 4 percent on Thursday. The change had been well-flagged this week and the bookies will have a few years to adjust. Gaming machines were a tremendous cash cow, but most future growth is expected to be online anyway. William Hill even rewards executives for business “diversification” as part of their long-term incentive plan. Analyst forecasts for its earnings and dividends have only been adjusted downward by about 2 percent. Shares of betting firms have shrugged off the impact of curbs, given the time to adjust Which begs the question: Is it still worth it?

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