Entain Chairman calls for “gold standard” regulation to help make UK the global leader in responsible gambling
Barry Gibson, the Chairman of Entain, the global sports betting, gaming and interactive entertainment group, today took part in a “fireside chat” at the World Regulatory Briefing (“WRB”) in London. The WRB is the flagship meeting that takes place every year at ICE VOX and brings together policymakers, regulators and the industry to debate gaming’s key regulatory, legal and compliance developments.
In a session entitled “Behind the Curtains with Entain”, Barry outlined the need for firm but fair regulation, the ‘gold standard’ being a regulator that has player safety at its core but that also takes into account the interests of – and works in proper consultation with – the broader industry. If the UK, which boasts some of the best operators on the international stage, were to adopt such an approach then it has a clear opportunity to become the global leader in responsible gambling, he said.
Alongside his comments on regulation, Barry outlined the extraordinary transformation that Entain has undergone over the last few years, and the improvement programmes that are underway in order to cement its position as a best-in-class, responsible global operator. These have included the complete overhaul of the Group’s Board and Executive Committee, a new strategy and vision underpinned by the twin pillars of growth and sustainability, a revolutionary new way of keeping customers safe – through the ARC ("Advanced Responsibility & Care") programme – and the launch of the Entain Foundation.
Speaking at the event, Barry Gibson said:
“At Entain we are strong advocates of firm but fair regulation that is rigorous, transparent and evidence-based. A good regulator is one that has player safety at its core but that also takes into account the interests of the broader industry – operators, employees, sporting bodies – working in proper consultation with the industry to create an environment that balances an open recreational market with the need to provide the highest levels of player protection. That is the gold standard we should be aspiring to. In my view, Nevada currently gets the closest.
“The UK already boasts a number of world-class betting and gaming businesses, developing and exporting home-grown expertise and tech prowess on the international stage. With gold standard regulation, Britain has the opportunity to be the global leader in responsible gambling.”
About Entain plc
Entain plc (LSE: ENT) is a FTSE100 company and is one of the world’s largest sports-betting and gaming groups, operating both online and in the retail sector. The Group owns a comprehensive portfolio of established brands; Sports brands include BetCity, bwin, Coral, Crystalbet, Eurobet, Ladbrokes, Neds, Sportingbet, Sports Interaction and SuperSport; Gaming brands include Foxy Bingo, Gala, GiocoDigitale, Ninja Casino, Optibet, Partypoker and PartyCasino. The Group owns proprietary technology across all its core product verticals and in addition to its B2C operations provides services to a number of third-party customers on a B2B basis.
The Group has a 50/50 joint venture, BetMGM, a leader in sports betting and iGaming in the US. Entain provides the technology and capabilities which power BetMGM as well as exclusive games and products, specially developed at its in-house gaming studios. The Group is tax resident in the UK and is the only global operator to exclusively operate in domestically regulated or regulating markets operating in over 40 territories.
Entain is a leader in ESG, a member of FTSE4Good, the DJSI and is AA rated by MSCI. The Group has set a science-based target, committing to be carbon net zero by 2035 and through the Entain Foundation supports a variety of initiatives, focusing on safer gambling, grassroots sport, diversity in technology and community projects. For more information see the Group’s website: www.entaingroup.com