At the beginning of the week, the Chief Executive Officer of the Betting and Gaming Council (BGC), Michael Dugher, made a formal promise that the trade body’s members will support the economic recovery plan of the Government with financial investment, new jobs and tax revenues. Mr Dugher also asked UK Ministers to take this engagement into account and not put it at risk in the ongoing gambling review by the implementation of changes which he described as “well-meaning but naive”, saying they could result in reducing the regulated gambling sector in the country.
According to the boss of the trade body representing gambling operators in the country, the regulated gambling and sports betting industry in the UK was ready to back Chancellor Rishi Sunak’s efforts aimed at public finances recovery after the beginning of the coronavirus pandemic.
According to EY, back in 2021, the members of the body that represents the legal gambling sector in the UK maintained 119,000 jobs, generated an overall tax worth £4.5 billion, and its contributions to the economy was estimated at £7.7 billion in gross value added. As estimated by some industry experts, about 30,000 of those jobs specialise in digital technologies, while in 2021, the gambling sector made sure that more than 50,000 employees took part in digital skills training.
The members of the BGC have also promised to create 5,000 apprenticeships by backing the “Plan for Jobs” unveiled by the UK Government.
UK Gambling Operators Making Investments for the Future While Still Recovering from Covid-19 Impact
Mr Dugher confirmed that the licensed gambling operators in the UK are also signing up for the Kick Start scheme of the Government to provide individuals aged between 16 and 24 on Universal Credit with some job opportunities. Gambling companies are also unveiling employment schemes aimed at recruiting and offering career paths to British university graduates.
The tech giants operating in the local gambling sector are also making investments for the future.
For example, Entain has recently unveiled plans to roll out Ennovate, a global innovation hub, which will invest up to £100 million into innovation projects, collaborations with European, British and global partners, and start-up investment, with £40 million having been specifically intended to spend for investments in the UK. Flutter Entertainment, on the other hand, has established a new innovation and technology hub in Leeds worth about £15 million. Another major employer in the sector, bet365, has created hundreds of new jobs in the northwest region of the country.
Currently, retail gambling venues across the country are getting back on their feet after being forced to cease operations for months during the Covid-19 lockdowns, and sports betting remains one of the most preferred forms of gambling among British residents.
The UK Government, however, is close to announcing its white paper that is set to be issued after the completion of its ongoing review of the local gambling sector. Previously, the Betting and Gaming Council warned that any new regulations must be based on enough evidence and not put the massive financial and economic contribution made by licensed gambling operators in danger.
- Author
Daniel Williams
