UK gambling industry body Betting and Gaming Council announced Friday that its members are “ready to play a leading role” in backing the Government’s new Growth Plan. The move came as Chancellor of the Exchequer Kwasi Kwarteng unveiled a package of measures designed to boost growth and make the UK’s economy more competitive.
“The UK’s regulated betting and gaming sector is already a British business success story, annually supporting 119,000 jobs, contributing £7.7 billion ($8.5 billion) to the economy and generating £4.5 billion ($5 billion) for the Treasury,” the trade association said. “And they are ready to invest even more, with a further 15,000 extra jobs expected to be created by 2027.”
Michael Dugher, BGC CEO, said the regulated betting and gaming sector backs the Government’s Growth Plan “and is ready to play its part in its ambitious growth agenda.” He described the Government’s measures as “a bold plan to revive the economy,” one which can only be achieved by setting “the regulatory framework for businesses to thrive.”
“Our members are supporting the UK’s hard-pressed high streets with bookmakers, while casinos and bingo provide a key pillar to the hospitality, tourism and leisure sector,” Dugher noted. “They are also supporting the Government’s Leveling Up agenda with huge and growing world-leading British tech in cities such as Stoke-on-Trent and Leeds.”
According to the BGC boss, betting and gaming support over 8,500 jobs in those areas alone, while contributing over £630 million ($693.3 million) to their local economies. Those contributions come from a sector “that is already investing in communities, delivering growth, and creating jobs and wealth” across the UK.
In his statement, Dugher also urged the Government to revisit the long-awaited Gambling White Paper. The reform of UK gambling laws was postponed for the fourth time after former UK Prime Minister Boris Johnson’s resignation in July, and local media reports indicate new Prime Minister Liz Truss is unlikely to focus on the gambling update in the near future.
Dugher stressed the “right regulatory framework” can support industry growth. “We are committed to continuing to raise standards on safer gambling and urge the Government to work with the industry to make progress on a gambling White Paper soon, so that our members have the regulatory clarity they need to invest in the future,” he noted.
“We believe the right regulatory reforms can help a thriving sector reach new heights, while delivering on the Government’s goal to improve player safety, a goal we share and are already working towards,” the BGC Boss concluded.