Entain Chairman supports firm but fair gambling regulation in the UK

Barry Gibson, the Chairman of Entain, one of the leading gaming, sports betting and interactive entertainment companies that is globally recognized, participated in a recent debate at the World Regulatory Briefing (WRB) in London, UK. The annual WRB event meets regulators, compliance experts and gaming industry representatives. Ultimately, during the event, the participants discuss strategic compliance and regulatory developments within the gambling sector.

In the latest edition of the WRB, Entain's Chairman showed support for a "gold standard" regulation that encompasses strict but fair conditions, ensuring the interests of the stakeholders and protecting the safety of the consumers. He outlined that the UK has a unique potential to become a leading global responsible gambling jurisdiction if it implements such an approach, a statement released by Entain reveals.

"At Entain we are strong advocates of firm but fair regulation that is rigorous, transparent and evidence-based," said Gibson. Moreover, he explained: "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." Gibson described the aforementioned approach as the "gold standard" and said that currently, only Nevada is close to it.

Besides supporting a "gold standard" regulation, Entain's Chairman acknowledged the transformative changes the company has gone through in the last few years. Some of the notable changes include the revamp of Entain's Executive Committee as well as its Board which now focuses on sustainability and growth.

Entain plans its future growth while following a unique program that seeks to protect its customers. This program is called ARC (Advanced Responsibility & Care) and is described by the company as a "pioneering preventative approach to customer protection."

Besides the updated and improved growth strategy, Entain's transformational changes included the launch of the Entain Foundation. This initiative dates back to a few years ago when the company launched the foundation in an effort to "coordinate and support the Group'sCSR initiatives, objectives and donations around the world." The plan of the Entain Foundation includes supporting multiple good causes.

The latest debate comes on the heels of another major announcement by the company. In mid-January, Entain confirmed plans to accelerate withdrawal from unregulated markets. At the time of the announcement, the company confirmed it plans to exit "a number of unregulated markets where it no longer sees a path to domestic regulation."

Image credit: Entain