British remote betting and gaming industry set for substantial change in next five years
3 February 2014
Changing regulation, a new approach to taxation and the growth of mobile betting and gaming will significantly alter the landscape of the remote British betting and gaming industry over the next five years, according to a new report from Deloitte.
‘The future of the British remote betting and gaming industry’ features research conducted with industry leaders and observers from the sector. They agree the introduction of a place of consumption (POC) tax combined with changes in the regulatory environment will increase the operating cost and be the catalyst for change in the British market.
Simon Oaten, Betting and Gaming lead at Deloitte, said: “While profitability and attracting and retaining customers will remain as the main strategic priorities, betting and gaming operators are likely to face new challenges in deciding their approach. Over the next five years, the British industry will need to focus on creating high quality, innovative mobile products while also developing models for monetising their social media presence. Ultimately, it is likely to be dominated by fewer and larger players.”
As a result, there are six core challenges which will be particularly important for betting and gaming companies in the medium-term:
Notes to editors
About the report
The research featured in this report is based on interviews with 16 industry leaders and observers from companies, the regulator, a trade association as well as other organisations with specialist knowledge in particular areas of the industry, including finance, law, tax, and corporate and digital strategy. The interviews took place between November 2013 and January 2014.
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
The information contained in this press release is correct at the time of going to press.
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