The Betting and Gaming Council (BGC) has welcomed the reappointment of Lisa Nandy MP as Secretary of State for Culture, Media and Sport and the appointment of John Healey MP as Chancellor of the Exchequer, stating it is looking forward to working with both ministers on the future of the UK's regulated gambling sector.
The industry standards body said it intends to continue its engagement with the Department for Culture, Media and Sport and HM Treasury on a range of policy issues, including the remaining reforms stemming from the Gambling Act Review, taxation and measures to address illegal gambling.
The BGC noted that Nandy has previously acknowledged the regulated betting, gaming and casino sector's contribution to employment, investment and economic growth; according to the organisation, the industry supports around 109,000 jobs, contributes £6.8bn ($9.11bn) in gross value added to the UK economy and generates approximately £4bn in annual tax revenue.
The trade body also highlighted Healey's support for its Grand National Charity Bet initiative earlier this year, during which he visited a local betting shop and met staff while participating in the fundraising campaign.
BGC Chief Executive Grainne Hurst said the organisation hopes to build on its existing relationship with Nandy while working with the new Chancellor to create what it describes as a stable and internationally competitive tax and regulatory environment.
Among the BGC's priorities is the ongoing debate surrounding Financial Risk Assessments proposed as part of the Gambling Act Review. The organisation reiterated its position that the Gambling Commission should demonstrate the accuracy and reliability of the underlying data before implementation, arguing that unnecessary friction for customers could encourage migration to unlicensed operators.
The BGC added that it intends to continue promoting what it describes as evidence-led and proportionate regulation while supporting efforts to combat the growth of the illegal gambling market.
The reappointment comes amid a wider push by the BGC on regulatory issues, including its recent five-point plan to tackle illegal gambling, its opposition to proposed rises in Machine Games Duty and comments from Hurst at the London REGCOM Summit, where she described the next two years as "critical" for the UK industry.
The BGC represents around 90% of the UK's regulated betting and gaming industry and has recently launched a five-point strategy aimed at tackling the country's growing illegal gambling market
