Government Proposes Overhaul of Britain's Gambling Laws

Shares in gaming groups plummeted yesterday as the government unveiled plans to introduce tough controls on big money slot machines and give local authorities more powers to approve or reject new casino applications. The proposals, which aim to overhaul Britain's gambling laws, have been met with criticism from the industry, with some calling them disappointing and unfair. The government's plan includes the introduction of a new category of large "regional" casinos, which would allow for Las Vegas-style complexes to be built in areas in need of regeneration. These casinos would be the only ones allowed to have high-prize slot machines, with a cap of 1,250 on the number of such machines.

Key Takeaways:

• The government's proposals aim to overhaul Britain's gambling laws by introducing tough controls on big money slot machines and giving local authorities more powers to approve or reject new casino applications.
• The new category of large "regional" casinos would allow for Las Vegas-style complexes to be built in areas in need of regeneration, with a cap of 1,250 high-prize slot machines.
• Small and large casinos would be limited to 80 and 150 slot machines, respectively, and small casinos would no longer be allowed to offer bingo.
• Fruit machines would be banned from unlicensed premises such as minicab offices and takeaway restaurants.
• Local authorities would have more say on whether casinos open in their area.
• The proposals have been met with criticism from the industry, with some calling them disappointing and unfair.
• Overseas casino operators, including MGM Mirage and Harrah's of the US, and South Africa's Sun International, are poised to invest billions into developing resort-style casinos.

Statistics:

• Shares in bookmaker William Hill fell more than 3 per cent at 520p.
• Shares in Stanley Leisure and Rank Group fell more than 6 per cent amid fears that the proposals favoured overseas groups at the expense of incumbent operators.
• There would be a cap of 1,250 high-prize slot machines allowed in new regional casinos.
• Small casinos would be limited to 80 slot machines, while large casinos would be limited to 150 slot machines.

Sources:

• "Government pledges 'cautious' approach to gambling reform" - Department of Culture, Media and Sport.
• "MPs and peers back call for reform" - The Guardian.
• "Casino overhaul fails to impress" - Lex, Financial Times.