The British gaming sector, as represented by the Betting and Gaming Council (BGC), has expressed its backing for the government’s financial strategies. Nevertheless, they have cautioned against any policies that could adversely affect employment and client satisfaction within the industry.
Coinciding with this week’s Cheltenham Festival, the BGC underscored the substantial economic stimulus it generates. The event injects an estimated £274 million (approximately $330 million) into the regional economy, with wagers reaching around £1 billion across the four days.
The BGC stressed that the sector is still in a state of recuperation from the effects of the COVID-19 pandemic, which brought it to a near halt. Furthermore, the conflict in Ukraine has had a considerable influence on the UK’s financial landscape.
Michael Dugdale, Chief Executive of the BGC, remarked, “The regulated wagering and gaming industry is already a crucial component of the UK economy, and we aspire to contribute even more significantly.”
He elaborated, “However, to achieve that, we require a Budget that promotes investment, refrains from any additional tax increases, and delivers a well-balanced White Paper on gambling that safeguards vulnerable individuals without compromising the experience of the overwhelming majority who gamble responsibly.”
Dugdale concluded by stating, “Our industry comprises globally prominent British technology firms alongside businesses that bolster the high street, retail, hospitality, tourism, and leisure sectors. In these demanding times, Ministers should prioritize the preservation of investment and employment opportunities. We advocate for substantial reforms that will further enhance responsible gambling practices, but new levies and indiscriminate affordability assessments will jeopardize that advancement.”
The announcement that the gambling regulator’s leader, Brigid Simmonds, has consistently resisted tighter gaming controls and condemned demands for a gaming levy has ignited fury.