According to David Williams, Director of Public Affairs at the Rank Group, “progress cannot come a moment too soon for casinos”. He released a statement this week on the UK’s Betting and Gaming Council website, where he forecasts effects the gambling reform White Paper might have on UK retail casinos.

In his opinion piece, Williams writes that, on the one hand, consultations are essential to ensure successful implementation of industry regulation. On the other hand, timing is crucial, and for casinos, progress cannot come quickly enough.

The release of the much-anticipated white paper last April has generated a fair share of debate amongst stakeholders. The White Paper outlines a number of potential changes including the spin speed generated by casino slot machines and the legal number of machines in land-based casinos. These changes, according to Williams, are positive and “will materially improve the customer experience and operational viability of scores of venues the length and breadth of the UK.” The White Paper’s inclusion of more widespread availability of electronic payment methods in casinos will put UK casinos at par with the rest of the world. Williams adds that for several years, “the industry has waited for these modest, but mission-critical modernisations.”

Matters of urgency

Furthermore, Williams claims time is running out when it comes to job protection, the generation of tax receipts and meeting customer needs and expectations. In 2005, the UK had 160 casinos in operation. Today, that number has dwindled to 119 and the downward trend does not seem to be abating. Williams mentions the industry slow post-pandemic recovery and throws in cost of living and inconsistent foreign travellers into London as guilty culprits of ravaged leisure and entertainment locations, particularly casinos.

Williams mentions that out of 51 Grosvenor-branded venue operated by Rank across the UK, about a quarter are currently “loss-making.” Industry operators are receptive of the need for regulation but are starkly aware of the burden of the cost that compliance will entail, which could lead to more operators being run out of business. Williams stresses that “the sequencing of these additional cost burdens must be seen within the context of the modernisations that are also coming our way.”

Unless industry regulation is handled well, William concludes that “one of the key tenets of the White Paper, namely the need to ensure ‘that there is an equitable approach to the regulation of the online and the land based industries’, would be instantly undermined.”

SiGMA’s regional summit in Limassol, Cyprus

SiGMA Balkans/CIS is only a few weeks away. It is happening at the City of Dreams, Europe’s first integrated resort from the 04 – 07 September.

Industry operators will be able to connect with leading affiliates and two conference stages will feature a number of high-profile guest speakers. There will also be an expo floor, including the SiGMA Startup Village. So much more is happening in Limassol! Check out all the details here.

Europe

Lucky 7 secures Dutch gambling licence, joins Finnplay as fifth brand

NBA teams up with Novibet as official betting partner in Greece

Bulgaria blocks over 2,500 illegal gambling websites

Land-Based

Bloomberry secures $1.25 billion refinancing deal

SiGMA partners with PAGCOR for second Land-Based Retreat?

Kangwon Land aims to become a leading IR with expanded non-gaming attractions??