Wednesday, June 7, 2023

Tag: Brexit

Will the UK political climate impact London’s casinos?

ICR - UK casinos
How will the UK gambling industry fare in the wake of leaving the EU, the upheaval of a snap general election and the long delayed triennial review?   British gaming revenue hit an all time record of £12.6bn last year showcasing growth within the sector despite increased regulation, taxes and political uncertainty. However, many have concerns how Britain’s gambling industry will fare...

Brexit means Brexit, but what does it mean for the British casino industry?

Casino Review Brexit UK
In the wake of Britain’s decision to exit the EU and with the May government pushing towards a ‘Hard Brexit’, what will be the long-term effects on the UK’s gaming industry, and in particular the casino sector?   While the UK prime minister Theresa May has confirmed her intention to pull Britain out of Europe’s single market, for the casino industry,...

Rank Group shake off Brexit with increased profits

Casino Review, Rank, Brexit, profits
Rank Group has announced on 23 August that Britain's decision to leave the European Union would have little or no direct impact on its performance, just days after it dropped its joint bid to takeover London-based bookmakers William Hill.   The operator of Grosvenor casinos and Mecca bingo reported increased revenue and profits in its latest full year, and an 18...

Genting safe from Brexit effect as Malaysian developments spur growth

Genting Brexit Malaysia
Genting Malaysia has announced that its Malaysian operations be able to cushion its UK casinos’ earnings from any Brexit impact.   Investment researchers AllianceDBS said the group’s UK operations contribute less than 10 percent of its earnings before interest, tax, depreciation and amortization (EBITDA). “Brexit should not be a key drag. Although the group has overseas operations covering the UK and US,...

Brexit stage left: Uncertainty reigns following UK referendum

Brexit Referendum Leave United Kingdom UK
While initial reactions to the UK’s decision to leave the European Union have run the gamut, it seems that uncertainty will be the defining term for the country’s gaming and leisure industry for the foreseeable future. James Walker explains.   Perhaps unsurprisingly, the majority of the UK’s gaming and leisure operators and suppliers have remained tight-lipped in the immediate aftermath of...