Steve Donoughue, a gaming sector advisor, remarked that the Conservative Party’s triumph in the national election was a broadly favorable result for the UK betting industry.
Donoughue recognized the anti-wagering sentiment across all parties following the uproar surrounding Fixed Odds Betting Terminals (FOBTs). Nevertheless, he contends that the Conservative’s decisive victory is more desirable for the sector.
Although Labour has traditionally backed tighter gaming regulations, Donoughue posits that the Conservative’s emphasis on Brexit will probably eclipse any major regulatory actions against the betting industry.
“With Boris Johnson securing the largest Conservative majority since 1987 and Jeremy Corbyn leading Labour to its most significant loss since 1935, this can only be interpreted as somewhat of a boon for the UK betting industry,” he informed Gambling Insider magazine.
“It’s not an occasion for celebration but rather a situation for a subdued gathering at the workplace without alcohol, just a few biscuits, and everyone eager to depart promptly. Due to the clumsy manner in which the top three bookmakers handled FOBTs, gambling is now perceived negatively by practically every Member of Parliament.
“However, what we currently have is a Conservative government that will be preoccupied with Brexit for the next several years and, as long as they don’t select someone who is swayed by the desires of the more aggressive advocacy groups as Gambling Minister, we should be able to weather the difficult period.”
As per Donohoe, a recent favorable shift for the wagering and gaming sector is the formation of the Gambling Commission. With Baroness Symons and Michael Dugher holding the positions of Chair and Chief Executive, correspondingly, the advisor contends that the industry’s decline has reached its conclusion.
Donohoe expands, stating that the newly established Gambling Commission possesses an exceptional leadership group: the highly competent Baroness Symons as Chair and the skilled former Labour MP Michael Dugher as Chief Executive. Both are deeply familiar with the operations of Westminster, seasoned influencers, and remarkably astute. Consequently, with a predominantly impartial government and a team of industry veterans spearheading the effort, it’s anticipated that the situation cannot deteriorate further.
Naturally, until the sector restores its public image, it shouldn’t anticipate any preferential treatment, but with optimism, there won’t be any additional setbacks.
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