Casino Industry Urges Regulatory Reform Ahead of 2025 Plans

_{Prime Minister Sir Keir Starmer will be under pressure as UK casino industry urges regulatory reform. (Image: PA Images / Alamy)}

In a bold move on Christmas Eve, Prime Minister Keir Starmer emphasised the need for a revamped regulatory framework aimed at boosting growth and investment within the UK economy. 

In a letter co-signed by Chancellor Rachel Reeves and Business Secretary Jonathan Reynolds, regulators were tasked with submitting proposals to create a more pro-growth environment by mid-January. The proposals, if enacted, could have a significant impact on land-based and online casino industry. 

The Betting and Gaming Council (BGC), representing a significant segment of the UK's regulated gaming and betting industry, has expressed strong support for the Prime Minister's initiative. The BGC noted that its members are eager to collaborate with regulators to further stimulate economic activity and job creation. 

CEO Responds to Prime Minister

Grainne Hurst, the CEO of the BGC, penned a lengthy piece for PoliticsHome outlining the need to get the regulatory environment right to guarantee growth and jobs and why the PM’s own ministers need to get the memo too. The CEO provided a comprehensive showcase for some vital reforms that could boost growth on the UK's hard-pressed high streets and city centres.

Hurst asserts that the casino sector, one of the most highly regulated industries in the UK, plays a vital role in this growth agenda. 

Currently employing over 10,000 people, UK casinos attract more than 13 million visitors annually and contribute approximately £300 million each year in taxes, alongside an estimated £800 million to the economy. However, the sector is in urgent need of regulatory modernisation to meet evolving customer demands. 

Reforms Need to Be Enacted to Deliver Economic Growth

The BGC also highlighted the recent White Paper on gambling reform, which proposed essential updates to land-based casinos, including the introduction of cashless payment options and allowing all casinos to offer sports betting. 

These reforms have garnered cross-party support and, if enacted promptly, could unlock hundreds of millions of pounds in investment within the gambling sector and broader high street economies. Additionally, the BGC has raised concerns regarding current affordability checks, which some believe have contributed to declining revenues in horseracing and other sectors. 

A voluntary Code was already established with the Gambling Commission to address this issue, but the BGC is now calling for the implementation of an Anti-Money Laundering Code to create a seamless betting experience for responsible gamblers. 

Hurst Addresses the Spectre of the Black Market

The urgency for reform is further underscored by the pressing issue of the black market in gambling, which sees around 1.5 million individuals in the UK participating illegally, potentially depriving the Treasury of an estimated £335 million over five years.

The BGC argues that balanced and evidence-based regulatory measures are crucial in combating this trend and providing a safe environment for consumers. 

Hurst prioritises intercepting the black market, stating, "My priority is ensuring we do everything in our power to do our job on this."   

“We have to be continually promoting and enhancing the BGC members’ role in the leisure, entertainment and tourism sector and ensuring policymakers and the wider public recognise there is a huge difference between us and the unsafe, unregulated gambling black market.”