Energy prices in Britain have significantly increased in recent months, with businesses facing an approximate 300% increase on existing rates. BGC chief executive Michael Dugher warned that these price hikes could harm land-based gambling operations, potentially leading to job losses.
Britain has around 6,500 betting shops and 121 casinos, directly employing 44,000 people. However, more than 200 licensed betting shops have closed in the past five years, and Dugher expressed concern that this number could rise due to the rise in energy costs.
Dugher stated, “The cost of doing business is rising at an exponential rate. Urgent action needs to be taken to prevent the continued increase in energy prices from having a catastrophic impact on the hospitality and leisure sector, including casinos.”
This energy crisis also adds to the challenges already faced by bookmakers, who play a critical role on the UK’s high streets. Any business that welcomes customers into a building must address this energy emergency.
The energy crisis coincides with delays in the white paper on gambling laws in the UK. The white paper, aimed at updating rules and regulations to reflect the modern market, has experienced multiple delays since the 2020 Gambling Act 2005 review began.
Furthermore, the recent resignation of Prime Minister Boris Johnson has further disrupted the process, as a Conservative party leadership contest is currently underway to select a replacement. Reports suggest that the white paper will not be published until a new prime minister is appointed.
