|
|
 |
|
Viewing report
|
|
|
|
Betting & Gaming Market Report 2007
Key Note Publications Ltd, Oct 2007, Pages: 124
The UK market for betting and gaming is substantial, with a turnover of more than £91.5bn in 2006 (according to HM Revenue & Customs, Horserace Totalisator Board and Department for Culture, Media and Sport). However, the gross gaming yield — the amount retained by operators after the payment of winnings but before the deduction of the costs of the operation — fell to £9.75bn in 2006, from 9.78bn in 2005.
The betting and gaming market can be split into six sectors: lotteries; casinos; licensed bingo; gaming machines; football pools; and bookmaking.
The betting and gaming market is in the process of significant change as deregulatory measures came into effect in September 2007, following the enactment of the 2005 Gambling Act. Deregulation of the industry is controversial and there has been much adverse public and media comment on its likely ramifications, so much so that there has been something of a U-turn on some aspects.
In March 2007, for example, the House of Lords blocked plans for the UK's first super-casino in Manchester and the new Prime Minister, Gordon Brown, is considered to have a puritanical attitude towards gambling. As Chancellor of the Exchequer, he had already announced plans for a tax of up to 50% on casinos' gaming yields. With effect from September 2007, there is also a Remote Gaming Duty of 15%, which is likely to deter offshore gaming companies from relocating their business to the UK from the tax havens where many are based. Other legislation that will affect the betting and gaming market includes the US ban on Internet gambling, which wiped billions of pounds off the value of this section of the market.
Although they are already part of a competitive market, betting and gaming companies look set for a tougher time than they have enjoyed of late. Recent changes in the structure of the UK betting and gaming market include: the acquisition of Stanley Leisure by the Malaysia-based Genting Group; the takeover of London Clubs International (LCL) by the US giant Harrah's Entertainment Inc; and the entry of BIL International, based in Singapore, into the UK casino sector. The acquisition of Harrah's itself by Apollo Management and Texas Pacific Group, agreed in December 2006, marks the first private-equity involvement in the UK casino market. This trend continues in the bingo sector, with the acquisition of the Riva Gaming estate by Hermes Private Equity in April 2006.
Product samples
A sample for this product is available. Please Login/Register to download this sample.
Customers who bought this item also bought
Betting & Gaming Market Report 2008
Betting and Gaming Market Report 2006
Mobile Gambling: Casinos, Lotteries and Betting 2008 - 2013
Betting and Gaming Market Report 2003
Betting And Gaming 2004
Global Casinos & Gaming
Casinos & Gaming in the United Kingdom
Casinos & Gaming in Western Europe
Casinos & Gaming in Europe
Betting and Gaming Market Report 2001
Casinos & Gaming in the United States
Casinos & Gaming in North America
|
|
|
|
