Following a study conducted by the Night Time Industries Association (NTIA), a panel of industry CEOs discussed what is needed to drive UK casinos forwards.
Held in the Hippodrome’s Paddy’s Sportsbook in London, the panel was comprised of: Genting CEO Paul Wilcock, Rank Group CEO Richard Harris, NTIA CEO Michael Kill, regulatory expert Dan Waugh and moderated by the Hippodrome’s CEO Simon Thomas.
The central topic of the discussion revolved around the NTIA findings. In its report, the association emphasised the community good land-based casinos bring.
The NTIA found that the UK’s 108 licensed casinos are responsible for 14,000 direct and indirect jobs and generated £515m ($683m) in taxes.
The report also highlighted some survey results, claiming 58% of respondents said the casino was the main reason for visiting the area. However, the survey pool was made up by a combination of the general public and casino visitors, skewing some of the results.
Nevertheless, the panel strongly believes the true value of land-based casinos lies beyond gaming. Harris said that for him “it’s about investment in the local economy,” as he pointed out the many people on his executive team that worked their way up through the company.
In fact, the NTIA’s report found that those who work in the industry tend to stay. According to the study, the average time a casino worker stays in the sector is 12.8 years, with 65% of these people moving to higher roles.
However, the main issue everyone would bring up was the uncertainty around the UK’s tax regime. “We’re not asking for a free ride – said Wilcock – We want it to feel fair.”
The concern stems from speculation over a proposed increase in Machine Game Duty for Category B machines.
The panel was unanimous in opposing any form of tax increase, insisting changes in profitability will undoubtedly lead to job losses.
Harris said that in four-and-a-half years he had to close four venues specifically due to taxation.
Reflecting on the impact responsible gambling has on driving fiscal changes, Waugh, Partner at Regulus Partners, said the focus should be on the whole customer experience and that the Government must expect there will always be trade-offs.
Thomas also expressed a similar sentiment, stating: “I’m not in the responsible gambling business. I’m in the fun business.”
The Hippodrome’s entertainment offering, Magic Mike Live, attracted more than 900,000 attendees
