Roger Devlin, chairman of William Hill, has painted a bleak future for UK’s biggest independent bookmaker should the country proceed with its new betting rules.

Devlin’s appeal comes amid reports that the government is set to release the results of its long-running gambling review, which reportedly includes recommending the reduction of fixed-odds betting terminals (FOBTs) stakes limit to a £2.00 ($2.69) maximum.

Sky News reported that Devlin made a last-ditch plea to Digital, Culture, Media and Sport Secretary Matt Hancock against a rumored reduction in maximum FOBT stakes to £2, saying that the new wagering rules will leave the British bookmaker exposed to foreign takeover.

In a letter to Hancock, Devlin expressed fear that the government will make a decision “that is unnecessary and lacking in evidence,” at the expense of tens of thousands of jobs across the gambling sector. The William Hill chair also pointed out that the UK gambling industry was already “extremely well regulated.”