The KPMG Gibraltar eSummit featured a speech by Sarah Gardner, Deputy Chief Executive of the Gambling Commission, discussing the current state of Britain’s gambling industry. Gardner’s speech highlighted the industry’s resilience in the face of the Covid-19 pandemic and emphasized the need for responsible gambling practices. She also addressed the Commission’s enforcement efforts and expressed optimism for a safer and fairer gambling landscape in the future.
The Industry’s Resilience:
Gardner acknowledged the impact of the Covid-19 pandemic on the gambling industry but noted that it has shown signs of recovery. Despite the challenges, the British gambling market remains mature and stable. In the year ending March 2022, the gross gambling yield reached £14.1 billion, while 44% of adults participated in gambling activity in the last four weeks. These figures demonstrate the industry’s resilience and its ability to adapt to changing circumstances.
Focus on Responsible Gambling:
Gardner highlighted the importance of responsible gambling and commended operators for their compliance efforts. She noted encouraging signs of innovation and competition driven by operators’ commitment to safer gambling practices. The introduction of safer gambling measures has positively impacted the market, and the Commission is pleased to witness this progress. However, Gardner acknowledged that there is still work to be done to ensure full compliance across the industry.
Enforcement Actions and Regulatory Failures:
While discussing enforcement actions, Gardner emphasized that the Commission’s penalties and settlements are not intended to create unnecessary challenges for operators. She stressed that enforcement measures are necessary to address serious breaches and failures that have real-world consequences for individuals. In the financial year 2022/23, the Commission concluded 24 enforcement cases, resulting in operators paying over £60 million due to regulatory failures. These cases reflect the Commission’s commitment to upholding the integrity of the industry and protecting consumers from harm.
A Positive Outlook for the Future:
Gardner concluded her speech on an optimistic note, emphasizing the opportunity for all stakeholders to make a significant impact on the gambling landscape in Great Britain. The next few years present a crucial opportunity to prioritize safety, fairness, and the elimination of crime within the industry. By working collaboratively, regulators, operators, and other industry participants can drive meaningful change and ensure a safer gambling environment for all.
Sarah Gardner’s speech at the KPMG Gibraltar eSummit provided valuable insights into the current state of Britain’s gambling industry. Despite the challenges posed by the Covid-19 pandemic, the industry has demonstrated resilience and stability. Gardner’s emphasis on responsible gambling and the Commission’s enforcement efforts underscores their commitment to protecting consumers and ensuring compliance. With a focus on safer gambling practices, the industry has the potential to evolve into a safer, fairer, and crime-free environment. By working together, stakeholders can seize the opportunity to effect positive change and shape the future of the British gambling industry.